Bank of England set for second cut after Labour reveals tax-hiking budget
CNBCNOV 20 2024
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."
Instead of focusing on discussing the host of monetary challenges currently facing the UK economy, supposedly-neutral BoE Gov. Andrew Bailey somehow decided it was appropriate to make his opinion on a democratic decision loud and clear. Instead of focusing on repairing its ties with the US and its flourishing economy, Labour and establishment ideologues continue to fawn over a failed European project that they forget the British people have already chosen to reject.