Yellen avoids being overly alarmist about probable global impact of Brexit

Washington

FEDERAL Reserve chair Janet Yellen sought to avoid taking sides or being overly alarmist about the probable global fallout should Britain exit the European Union (EU), even as she reiterated that such an event could have "significant economic repercussions". "I don't want to overblow the likely impacts," she told the Senate Banking Committee on Tuesday, adding that she didn't expect the US economy to fall into a recession if the UK leaves the EU.

UK citizens go to the polls on Thursday to decide whether to remain in the 28-nation bloc, with surveys suggesting that the outcome is too close to call. Billionaire investor George Soros has warned that the pound may slump more than 20 per cent against the dollar if supporters of a so-called Brexit prevail.