Interestingly the "City of London" is a specific thing that has surprising meaning [0], but used here I think it is a metonym for the financial / banking sector

Interestingly the "City of London" is a specific thing that has surprising meaning [0], but used here I think it is a metonym for the financial / banking sector of the British economy. [0] https://en.wikipedia.org/wiki/City_of_London https://en.wikipedia.org/wiki/City_of_London & https://www.youtube.com/watch?v=LrObZ_HZZUc https://www.youtube.com/watch?v=LrObZ_HZZUc