Bank of England governor says Brexit has undermined UK economy

Andrew Bailey, the governor of the Bank of England, delivered his speech to an audience including Rachel Reeves in the City of London. Photograph: Isabel Infantes/PA

The Bank of England governor has urged ministers to “rebuild relations” with the EU, warning that Brexit has undermined the UK’s economy.

Speaking at the Mansion House dinner in the City of London on Thursday evening, Andrew Bailey said he took no position on Brexit “per se”, but added: “I do have to point out consequences.”