The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that a no-deal Brexit could result in longer-term damage to the British economy compared with the Coronavirus (COVID-19) crisis, Reuters reported.<\/p>\n\n\n\n
\u201cWell, I think the long-term effects … would be larger than the long-term effects of COVID,\u201d Bailey said at the BoE Monetary Policy Report Hearings in front of the House of Commons\u2019 Treasury Committee.<\/p>\n\n\n\n
\u201cIt takes a much longer period of time for what I call the real side of the economy to adjust to the change in openness and adjust to the change in the profile of trade.\u201d<\/p>
\u201cIt\u2019s hard to put a multiple on it as you say, but I think you\u2019re basically right to say that in that scenario you would expect a longer-term effect from the exit trade agreement.\u201d<\/p><\/blockquote>\n\n\n\n
<\/p>\n\n\n\n
In addition, the BoE governor revealed that was probably a leak of its decision to increase its bond-buying program by GBP 150 billion.<\/p>\n\n\n\n
\u201cWhat we have to assume is that it was a leak and we therefore have to try to get to the bottom of it.\u201d<\/p><\/blockquote>\n\n\n\n
<\/p>\n\n\n\n
The BoE is reportedly investigating the matter.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that a no-deal Brexit could result in longer-term damage to the British economy compared with the Coronavirus (COVID-19) crisis, Reuters reported. \u201cWell, I think the long-term effects … would be larger than the long-term effects of COVID,\u201d Bailey said at the BoE …<\/p>\n","protected":false},"author":10,"featured_media":31162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[6967,6835],"class_list":["post-37548","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-boe","tag-uk"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=37548"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37548\/revisions"}],"predecessor-version":[{"id":37550,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37548\/revisions\/37550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31162"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=37548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=37548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=37548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}