Andrew Bailey, Governor of the Bank of England, has said that there are limits to what your institution can do to mitigate the blow at the end of the Brexit transition. Bailey has also added that the work on negative interest rates is still ongoing. The BoE meets next week to announce its last decision of the year.
GBP / USD has spread its losses, dropping to a fresh low of 1.3184, the lowest level since Nov 18. The British pound has previously been hit by fears of a no-deal exit after the president of the European Commission, Ursula von der Leyen, said the probability of a no-deal Brexit is higher than reaching a deal. British Prime Minister Boris Johnson said Thursday that there is a “great possibility” of a no-deal Brexit.
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