UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
Bank of England governor Andrew Bailey has said the UK’s financial infrastructure is a “global public good”, requiring international standards and co-operation to maintain.
Bailey, speaking at a conference in Dublin on November 8, warned against fragmentation in both global financial markets and trade. Regarding the latter, Bailey said the pandemic and the Russian invasion of Ukraine had encouraged fragmentation in global commercial networks.
He also commented that Brexit “has led to a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Macroeconomics
US news has a large impact on global bond yields – research
Bank of Canada research finds US news affects expectations in other countries
Generative AI’s impact on inflation unclear – BIS study
Inflation could worsen if people anticipate jump in productivity, authors say
Low growth threatens to reverse living standards – IMF
AI will drive growth but also increase inequalities, fund says
Long-term inflationary pressure set to rise, research finds
Changed environment makes central banks’ task harder, Kenneth Rogoff and other researchers say
Dallas Fed analysis explains puzzle of strong US economy
Authors say US has enjoyed favourable supply-side conditions that others missed out on
IMF chief urges China to adopt pro-market reforms
Comprehensive reforms could add $3.5 trillion to economy over next 15 years, Georgieva says
New study finds uneven impact of changing energy costs
Energy prices more likely to affect product prices than wage increases
BIS research points to ‘slower disinflation ahead’
Breakdown of post-Covid surge finds services prices playing bigger role
Most read
- BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
- Central bank of the year: Central Bank of Brazil
- ECB staff speak out against changes to internal survey