- Bailey supports deeper UK-EU trade relations.
- No direct cryptocurrency impact reported.
- Addresses economic productivity concerns post-Brexit.
Bank of England Governor Andrew Bailey, speaking in Dublin on May 30, 2025, highlighted the potential for the UK to negotiate deeper trade ties with the European Union amidst ongoing post-Brexit impacts.
Bailey’s call for expanded UK-EU trade emphasizes addressing non-tariff barriers created by Brexit to enhance productivity. Economic growth and regulatory alignment are stressed by the governor in his remarks.
Andrew Bailey, since March 2020, has led the Bank of England, emphasizing a pragmatic monetary approach. He urges minimizing trade barriers to spur productivity and growth, particularly those emerging post-Brexit.
Key Quote:
“If the level of trade is lowered by some action, it will have an effect to reduce productivity growth and thus overall growth. Just as tariffs, by increasing cost, can reduce the scale of trade, the same goes for the type of non-tariff barrier that Brexit has created.”
The speech has no immediate impact on DeFi TVL or traditional finance sectors. Potential outcomes of these trade discussions might include economic stability fostering a more standardized regulatory environment. However, direct market or pricing changes in the crypto realm are not anticipated.
Bailey’s speech underscores the necessity of robust trade agreements for the UK, highlighting how reduced barriers can ultimately lead to improved productivity and macroeconomic stability. For more details, see his full speech on the economic outlook and challenges.
