Hammond to Work With Bank of England 'Closely' After Brexit Vote

UK Chancellor of the Exchequer Philip Hammond said Tuesday he would cooperate closely with the Bank of England to provide stability to the UK economy after the decision to leave the European Union.

MOSCOW (Sputnik) — He added that the Brexit vote created short-term turbulence to the UK economy for about next 18 months.

"I’ll work closely with the Bank of England to provide immediate stability and to maintain confidence in the fundamental health of the UK economy," Hammond said during a parliamentary session. 

On June 23, the United Kingdom held a referendum to determine whether or not the country should leave the European Union. According to the final results, 51.9 percent of voters, or 17.4 million people, decided to support Brexit, while about 16.1 million opposed it.