Bank of England Governor Calls for Deeper UK-EU Trade Deal to Mitigate Brexit's Impact

Brexit's Lingering Impact: Bank of England Governor Urges Stronger UK-EU Trade Deal The UK's departure from the European Union continues to impact its economy, prompting calls for a deeper trade partnership with the EU. Andrew Bailey, Governor of the Bank of England, recently emphasized the importance of strengthening trade relations with the EU to minimize the negative effects of Brexit and boost economic growth. Bailey's comments came during a discussion where he acknowledged that the current trade turmoil underscores the need for closer UK-EU collaboration. "I think it does emphasize the need to do it," he stated, referring to the necessity of rebuilding the relationship. He further highlighted that even with new trade agreements in place with the US and EU, tariffs remain higher than before Brexit, indicating that a more comprehensive deal with the EU is crucial for economic recovery. The interview highlights the ongoing challenges faced by the UK in navigating post-Brexit trade relations and the ongoing debate surrounding the best approach to securing economic prosperity. Bailey's call for a stronger UK-EU trade deal underscores the need for continued dialogue and cooperation between the two entities to address the lingering effects of Brexit.