BOE’s Broadbent Sounds New Brexit Warning on Risks to Trade
- Says significant reduction of trade with EU would hurt income
- Speech sidesteps deputy governor’s current policy stance
Nomura's Rochester Is Positive on the Pound
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The Bank of England has issued a new Brexit warning.
A reduction in trade with the European Union after leaving the bloc would be damaging to the U.K. by forcing it to refocus production away from its specializations, Deputy Governor Ben Broadbent said in a speech in Aberdeen, Scotland on Tuesday. It would also hurt EU growth, albeit on a much smaller scale, he said.