UPDATE 1-ING says Brexit heading towards delay, with 40% chance of an UK election

ING, one of Europe's largest banks, said on Tuesday its central assumption was Brexit would be delayed, with a 40 percent chance of a national election in the United Kingdom. Prime Minister Boris Johnson, who took power last month, has pledged to leave the European Union on Oct. 31 without an agreement on the terms of Britain's departure, unless the EU agrees to renegotiate a deal reached by his predecessor Theresa May. The EU has refused to do that.

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