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."
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