By JORDAN KENDALL
MARK CARNEY, The Governor of the Bank of England has said the UK financial system may thrive post-Brexit and predicted that the city will be 15-20% of Britain’s GDP.
Yesterday the Bank of England voted to keep interest rates at 0.25% – however, they may be raised in the next 12 months to curb the UK’s inflation.
Carney said that the City of London was worth 10 times more than the annual output of the whole country.
The UK financial sector is predicted to double in size over the next 25 years according to experts.
This contradicts financial experts predictions during the EU Ref on the UK’s economy post-Brexit.