Andrew Bailey Says Brexit Good for the City mdi-fullscreen

Bank of England Governor Andrew Bailey has admitted Brexit “actually created opportunities” for Britain, accepting that although short-term impacts of leaving the EU have been negative, the Remainer doomsayers have been overly-dramatic. Is he referring to his own warnings in 2016 that Brexit would weaken UK growth? Growth which currently exceeds the EU’s ‘powerhouse’ Germany…

In an interview with Prospect Magazine, Bailey said:

“I think the post-Brexit landscape does give us opportunities. You know, I’ve always said, not everything about EU regulation was best-suited to any national circumstances. If you go back to the period after the referendum, there were pretty dire predictions about the consequences of Brexit for the financial services world, for the City of London. And I think so far those effects have been smaller.” 

Quite a climbdown from his previous views…

mdi-tag-outline Bank of England Brexit
mdi-account-multiple-outline Andrew Bailey
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