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Investors pull £65bn out of UK in two months ahead of Brexit vote

Joanna Faith
Written By:
Joanna Faith

Investors pulled £65bn out of the UK in March and April as uncertainty around the Brexit vote grows, Bank of England figures reveal.

The cash was taken out of the country or converted into other currencies, The Telegraph reports.

It marked the fastest rate of outflows since the financial crisis.

In March alone, £59bn was pulled from UK assets and currency and £77bn left sterling-denominated assets in the half year to April, according to the Bank data.

The outflows suggest money managers were taking the EU referendum seriously, and were prepared to take funds out of the UK entirely.

Conflicting polls – including one published on Tuesday suggesting Brits were narrowly in favour of staying in, and one on Monday showing the leave campaign were ahead –  have made it difficult to predict the outcome of the 23 June vote.