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Bank of England confirms research on EU exit implications

The Bank of England has confirmed that it is looking into the implications of a possible British exit from the European Union (EU).

The confirmation came after the financial institute accidently sent a mail as part of the internal communication on the EU exit research to the Guardian.

The bank confirmed its move in a statement on its website that read: "It should not come as a surprise that the Bank is undertaking such work about a stated government policy. There are a range of economic and financial issues that arise in the context of the renegotiation and national referendum. It is one of the Bank’s responsibilities to assess those that relate to its objectives.

"It is not sensible to talk about this work publicly, in advance. But as with work done prior to the Scottish referendum, we will disclose the details of such work at the appropriate time."

Meanwhile, the head of a parliamentary committee has asked the bank to publish the findings of its research warning that it will go through a thorough examination by MPs.

The move comes after Britain’s newly re-elected Prime Minister David Cameron’s promise during campaigns to let people vote on whether they want to exit the 28-member bloc by the end of 2017.

After last year’s referendum on Scottish independence, the bank is trying to avoid any suggestion that it is going to be a part of a political debate.