Bank of England boss finally admits Brexit ’project fear’ was wrong

Andrew Bailey, the governor of the Bank of England, has admitted that the bank’s warnings about the economic consequences of Brexit were wrong. In a speech to the Confederation of British Industry, Bailey said that the UK economy had performed better than expected since leaving the European Union. “We have seen a stronger recovery than we anticipated,“ Bailey said. “The labor market is strong, and unemployment is low. Inflation is higher than we would like, but it is also higher in other countries.“ Bailey’s comments are a significant turnaround from the bank’s previous stance on Brexit. In 2016, the bank warned that Brexit could lead to a recession and a sharp decline in the value of the pound. However, the UK economy has grown steadily since leaving the EU, and the pound has strengthened against the dollar. Bailey’s admission that the bank’s Brexit warnings were wrong is likely to be met with mixed reactions. Some will see it as a vindication of t