Brexit unlikely to spell end of London as a financial centre – BoE’s Cunliffe
“Clustering effects“ likely to remain after EU exit
London is likely to remain a financial centre despite the UK's decision to leave the European Union, Bank of England deputy governor Jon Cunliffe said on November 3.
Speaking at a dinner in London, Cunliffe said the "scale and scope" of financial activities that have congregated in London create "clustering effects" such as labour market externalities, specialised inputs and knowledge transfer, meaning it is likely to remain an important centre, even if some activity shifts.
There are threats to
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