BoE's Bailey: London to continue as one of leading financial centre in the world

Bank of England Governor (BoE) Andrew Bailey said on Wednesday that London will undoubtedly continue as one of - if not the - leading financial centre in the world, as reported by Reuters.

"The big question is whether financial fragmentation caused by Brexit will persist or if it will reverse over time," Bailey added. "I think it is more likely than not that in 10 years' time this fragmentation will reverse."

Market reaction

The GBP/USD pair largely ignored these remarks and was last seen gaining 0.23% on the day at 1.3845.