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Financial News: BoE Says Brexit To Cost Up To 75,000

BoE Says Brexit To Cost Up To 75,000 Jobs In Financial Services: Report

10/31/2017 - 05:39:00 (RTTNews)

(RTTNews) - The Bank of England expects the UK to lose up to 75,000 jobs in financial services after the country leaves the European Union, the BBC reported Tuesday.

Citing senior figures at the BoE, the BBC said the number could change depending on the trading relationship agreed between two sides.

The bank expects substantial job losses in the UK and many jobs will move to the continent.

If there is no deal, then the bank believes the 10,000 jobs figure is likely on the "day one" of Brexit, BBC said.

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