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Time running out for Brexit transition deal, Bank of England warns
The governor of the Bank of England has warned that Britain’s financial industry is running out of time for ministers to strike a transitional deal with Brussels over leaving the European Union. Mark Carney told MPs that without a transitional deal banks would need to start moving staff and setting up offices in the EU from as early as the first three months of next year, given it would take at least 18 months to make the changes. Although he said the Bank expected a transitional deal to be agreed before the article 50 process completed in March 2019, Carney insisted Threadneedle Street was making plans for a hard ... (full story)