The Facts

• Bank of England (BoE) Gov. Andrew Bailey has claimed that the UK must "rebuild relations" with the EU during a speech at Mansion House on Thursday.

• Bailey stated that despite having "no position" on Brexit as a public official, he had to "point out the consequences" of the decision, and claimed the new relationship with the EU had "weighed" on supply levels in the UK economy.

• The Governor consequently called for the UK Government to "welcome opportunities" for closer ties with the EU whilst "respecting the decision of the British people."