Bank of England boss to say UK must 'rebuild relations' after Brexit

Published On Nov 14, 2024, 1:03 PM

Andrew Bailey, the governor of the Bank of England, emphasized the need for the UK to rebuild post-Brexit relations with the EU in a recent speech. He noted that Brexit has negatively impacted trade, particularly in goods, and has contributed to the UK's weakened economic performance. Bailey also urged a focus on potential opportunities for growth, while acknowledging geopolitical challenges. Alongside these comments, Chancellor Rachel Reeves announced plans to reform the UK's pension system to encourage investment and growth, highlighting the need for a financial strategy that promotes sustainable investments and better regulation to foster economic growth.

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Stock Forecasts

EWUView EWU chart on TradingView

Positive

The potential for improved UK-EU relations may lead to increased economic stability and growth in the UK, particularly in trade sectors that have suffered post-Brexit. The focus on reforming financial services and sustainable investments is likely to attract investor interest.

VGKView VGK chart on TradingView

Negative

However, uncertainty remains regarding the actual implementation of these reforms and the challenges posed by a fragmented economy and geopolitical tensions. If the government fails to execute effective strategies, it could lead to stagnation or additional market pressures.

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