BOE Governor Says Brexit Creates Opportunities for UK
- Andrew Bailey acknowledges short term damage from leaving EU
- Tells Prospect magazine UK at risk from geopolitical shocks
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Bank of England Governor Andrew Bailey said Brexit has “created opportunities” for Britain’s financial regulators and has less of an impact on the City of London than expected but warned that the UK faces “further large shocks” following the pandemic and war in Ukraine.
In an interview with Prospect magazine, he acknowledged that leaving the European Union will have negative economic effects in the short run, but stressed he was an inherent optimist on the UK.