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- Brexit could affect economy for longer than COVID - BoE's Saunders
Brexit could affect economy for longer than COVID - BoE's Saunders
Reuters reports that Bank of England (BoE) policymaker Michael Saunders said the long-term effects of Brexit could have a bigger impact on companies than the coronavirus pandemic.
"Businesses will shake off the effect of COVID-19 as they're temporary, but the long-term effects of Brexit could be more permanent," Saunders said.
BoE Governor Andrew Bailey said on Monday that a no-deal Brexit would cause longer-term damage to Britain's economy than the pandemic, and the impact of the change might be felt for decades.
Saunders also said Britain's economy was unlikely to fall into a recession.
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