Carney said he was “absolutely serene” about his pre-referendum warnings. REUTERS/Dylan Martinez
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Gov. Mark Carney defended the Bank of England's major stimulus package of last month as signs grow that the economy has held up better than expected to the initial shock of Britain's vote in June to leave the European Union.Carney fended off criticism from some lawmakers that the bank moved too aggressively to help Britain's economy through the Brexit shock in early August when it cut interest rates, expanded its bond-buying program and took other measures to ease lending.Carney came under fierce criticism from supporters of Brexit in the run-up to the referendum – and afterwards – for saying the economy would face a material slowdown, and possibly a recession, in the event of an "Out" vote.Carney said growth seemed to be slowing to about half its pace of before the referendum, which would equate to around 0.3 percent in quarter-on-quarter terms.
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