March 23, 2018 / 2:10 PM / a year ago

Bank of England to give update on approach to Brexit next week

LONDON, March 23 (Reuters) - The Bank of England said it would update banks and insurers next week on its approach to Brexit given that Britain and the European Union have now adopted a transition deal.

“The Bank of England welcomes the EU Council’s conclusion that there should be a transition period following the UK’s withdrawal from the EU,” a BoE spokesperson said on Friday.

“In light of the EU Council’s conclusions, we will provide an update on our regulatory approach to preparations for EU withdrawal next week.” (Reporting by Huw Jones Editing by Andrew Heavens)

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