Top economist says CI could benefit post-Brexit

Wednesday 01 November 2017

The Chief Economist of Investec Private Bank says the UK economy is still suffering from uncertainty in the wake of the EU Referendum, but the Channel Islands could benefit from a good Brexit.

Philip Shaw said the Bank of England’s Monetary Policy Committee could raise historic low interest rates when they meet this Thursday in what is a widely expected move that the markets have already largely discounted.

Looking at the wider implications of Brexit on the Channel Islands, Mr Shaw says the position is difficult to gauge at the present time because of the inextricable links between the Islands and the City, but that there is scope for optimism provided the UK gets a good deal from its negotiations with the EU.