Date: 12 January 2017 13:46
Baku, January 12 AZERTAC
The EU has more to lose from Brexit than the UK, the Governor of the Bank of England has said as he admitted that Britain's economy will defy his own gloomy forecasts and grow at a faster rate than expected.
According to Telegraph, Mark Carney conceded that Brexit is no longer the biggest domestic risk to Britain's economy after issuing a series of dire warnings about the consequences of a leave vote in the run up to the EU referendum.
The Bank of England is now “very likely” to improve its economic forecast next month, Mr Carney said as he said he was “surprised” that the economic slowdown that he forecast has not materialised.
During an appearance before MPs he also said that a hard Brexit would pose a greater threat to the financial stability of the European Union than to the UK because of the strength of Britain's financial services sector.
He said: “As you'd expect a bunch of dour central bankers to be, we're focused on the downside and less focused on how everything could turn out well, but what could go really wrong... and where can we potentially mitigate that.
It came Oxford University’s head of Brexit strategy said that British universities will establish global networks and recruit the world's "best and brightest" students outside of the European Union. Professor Alastair Buchan told the Education Select Committee that membership of the EU had "sidelined" Canadian and American researchers who used to come to work at British universities, as freedom of movement made it easier to recruit Europeans.
Robert Goodwill, the immigration minister, suggested that the Government is considering extending the charge which will apply to non-EU citizens from April to EU migrants. However, the suggestion was slapped down by Downing Street which said it is “not on the Government’s agenda”.
The FTSE 100 index of Britain's biggest companies yesterday hit record levels.