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The Bank of England will once again base its.....>

UK
UK: The Bank of England will once again base its August Inflation Report
projections on a smooth transition to an average of Brexit outturns, an outturn
it knows cannot materialize, a former BOE advisor told MNI.
- "The difficulty with the Bank's approach is that we can be pretty sure that
the final outcome will be one thing or another and not a mixture of possible
outcomes," said Garry Young, Director of Macroeconomic Modelling and Forecasting
at the National Institute of Economic and Social Research and a BOE veteran.
**See MNI Main wire at 0720BST for full story or contact us for access.

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