Britain's current account deficit widened much more than expected to hit a record high, highlighting one of the economy's weak spots that is coming under sharper focus ahead of the EU membership referendum. The Office for National Statistics said yesterday that the deficit in the current account widened to £32.7 billion in the fourth quarter of 2015, shooting up to the equivalent to seven per cent of gross domestic product. The deficit had stood at 4.3 per cent of GDP in the third quarter. Economists taking part in a Reuters poll had expected the shortfall to widen to £21.1 billion in the October-December period. For 2015 as a whole, the current account deficit stood at £96.2 billion or 5.2 per cent of GDP, also the biggest since records began in 1948. The Bank of England has said it will watch for signs that the EU membership referendum, due to take place on June 23, might make it harder for the country to finance the shortfall in its balance of payments. The value of sterling has weakened sharply since the start of year on concerns about the outcome of the EU referendum and BoE governor Mark Carney has said a vote to leave the bloc would test the "kindness...
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