Brexit 'not a threat' to UK economy says Bank of England governor Andrew Bailey

On Christmas Eve, Boris Johnson secured a historic Brexit deal, days before the end of the transition period on December 31. The new deal came into effect from January 1 and now Andrew Bailey, the Governor of the Bankd of England, has said Brexit is not a "threat to stability".

According to the DailyFX Team's Twitter account - which provides live coverage of forex market news - Mr Bailey said the March deadlines for "financial equivalence" talks are "reasonable".

They quoted Mr Bailey saying fragmentation of markets is likely post-Brexit and there may be liquidity issues but will be "manageable and not a threat to stability"

Mr Bailey also does not "expect full equivalence".

More to follow... 

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