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BoE will Keep the Normal Rates After Brexit


December, 20 2017
watermark Economic news

The Bank of England allows the financial institutions in the country to proceed with their selling transactions in the United Kingdom without the need for expensive subsidiaries after Brexit, despite the divorce deal between London and Brussels becomes unsuccessful as reported by the BBC.

The decision of the central bank will be publicized at 1300 GMT on Wednesday. These would ease problems to be faced by the European banks as they offer wholesale services in London that follows New York as the world’s financial capital.

Concerns regarding their requests for business hours, the BoE haven’t responded out of it. There are unidentified reports saying that the government and sound sources that the decision is supported.

The proposal of BoE would affirm for goodwill from Britain in Brexit talks that seek to maintain London as the financial center and manage more banks.  

There are more than 100 branches of lenders that operate in London which is headquartered in London. In the present, banks in Britain functions under EU “passporting” rules, which will end in March 2019 when Britain leaves the bloc.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.