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UK to remain global financial center regardless of Brexit: Bank of England

UK to remain global financial center regardless of Brexit: Bank of England© Reuters. The London Eye, the Big Ben clock tower and the City of London financial district are seen from the Broadway development site in central London

LONDON (Reuters) – Britain will remain a major hub for global finance, regardless of what happens with Brexit, a senior Bank of England official said in an interview published by Welsh media group WalesOnline on Wednesday.

Alex Brazier, the central bank’s executive director for financial stability strategy and risk, said during a visit to Cardiff said it was hard to predict what exactly would happen if Britain left the European Union next year without a trade deal.

“The big point … regardless of what happens with Brexit is that Britain will remain a global financial center,” Brazier was quoted as saying.

“So there may be some jobs moving as firms execute their contingency plans, but I don’t expect the big picture to change,” he added.

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Source: Investing.com

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