- Title: 'We're Brexit-ready', says Lloyd's CEO John Neal
- Date: 11th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 11, 2019) (REUTERS) (SOUNDBITE) (English) LLOYD'S OF LONDON, CEO, JOHN NEAL, SAYING: "Who would have predicted, you know, from May to today that U.S. interest rates would have fallen a 50 bps now. I don't think we'd have seen that necessarily. So, our sense would be that interest rates will fall further having gone up, which again makes it... makes it quite challenging, doesn't it? You know, I think that the perfect economy has a bit of interest rate and a bit of inflation because everyone does a little bit better in that world, you know, wages go up, more products are developed, and more products are sold. So, the U.S. economy has really been powering the global economy for a while. So, again. you know. We’ve got to watch very, very carefully."
- Embargoed: 25th October 2019 19:41
- Keywords: tariffs economy Brexit Donal Trump John Neal reinsurance Lloyd's of London interest rates insurance Boris Johnson Federal Reserve Jerome Powell
- Location: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- City: NEW YORK, NEW YORK, UNITED STATES / LONDON, ENGLAND, UNITED KINGDOM
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA007B0NMQ31
- Aspect Ratio: 16:9
- Story Text: Lloyd's is Brexit-ready, said the insurance and reinsurance market's CEO John Neal in an interview with Reuters on Friday (October 11).
Neal also said the global economy is at a tipping point, with not much certainty, which is not good for business.
"The perfect economy has a bit of interest rate and a bit of inflation, because everyone does a little bit better in that world," Neal said. "Wages go up, more products are developed, and more products are sold."
Neal also said he is a great advocate of free trade, when asked about tariffs.
The conversation took place just as London-listed companies with exposure to the domestic economy soared for their best day in nearly a decade on hopes that Britain can seal a Brexit deal.
The European Union agreed to enter intense talks with the UK, signaling that an agreement could be done before the Halloween deadline.
(Production: Andrew Hofstetter & Aleksandra Michalska) - Copyright Holder: REUTERS
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