Andrew Bailey
Governor of the Bank of England
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01.07.2024Labour Party wins the general election
01.07.2024Labour Party wins the general election
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business 2025-07-02 11:20
Bank of England policymaker urges further rate cuts amid economic concerns - Governor Andrew Bailey highlighted ongoing pressure on economic growth in the UK amid rising economic uncertainty.
- Alan Taylor called for three more interest rate cuts in 2025 due to a deteriorating economic outlook.
- The Bank of England is facing potential challenges in adjusting monetary policy while addressing inflation risks.
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business 2025-06-27 07:36
Bank of England governor warns job market feels impact of tax hikes - Andrew Bailey raised concerns about how employment tax hikes are impacting wages and job numbers.
- Evidence suggests a cooling labor market, with over 100,000 people dropping off payrolls in May.
- Policymakers must address inflation while navigating these employment challenges.
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business 2025-06-26 16:55
Companies cut jobs and wages due to national insurance rise - Andrew Bailey mentioned the response of companies to increased payroll tax liabilities.
- Cuts in employment and wages are being observed as businesses strive to manage rising costs.
- These trends could have significant negative impacts on the UK economy and its labor market.
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business 2025-06-24 16:24
Bank of England governor prioritizes domestic issues over global unpredictability - Andrew Bailey discussed the unpredictability of tariffs and conflicts affecting the UK economy with the House of Lords Economic Affairs Committee.
- The governor emphasized that domestic economic issues, particularly the jobs market and wage growth, are more significant than global developments.
- Bailey intends to prioritize domestic indicators in shaping future monetary policy decisions.
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business 2025-06-03 16:30
Andrew Bailey questions pace of interest rate cuts amid uncertainty - Andrew Bailey addressed the Treasury select committee regarding economic challenges in the UK.
- He highlighted the significant uncertainty surrounding interest rates and their future direction.
- Bailey's remarks suggest a cautious approach by the Bank of England in adjusting interest rates.
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business 2025-03-24 21:30
Tariffs and an ageing population threaten Britain's economic growth - Andrew Bailey highlighted that tariffs and an ageing population are major threats to the UK economy.
- He pointed to a significant 15-year stagnation in productivity as a drag on living standards.
- Despite these challenges, Bailey believes that leveraging new technologies like artificial intelligence could help improve Britain's economic prospects.
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society 2025-03-07 19:25
Jes Staley misled watchdog regarding Epstein connection - Andrew Bailey testified at a London tribunal, indicating that Jes Staley had a close relationship with Jeffrey Epstein.
- The FCA fined Staley more than £1.8 million for misleading regulators about his ties to Epstein.
- The investigation raises ethical concerns about personal connections influencing professional accountability in the financial sector.
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technology 2025-02-11 17:00
Bank of England's Andrew Bailey questions need for digital pound - Andrew Bailey expressed doubts about the necessity of a digital pound.
- He highlighted the lack of demonstrable advantages over existing commercial options.
- Bailey's remarks suggest a cautious approach towards the development of a central bank digital currency.
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business 2024-12-04 13:01
Andrew Bailey admits budget uncertainty risks inflation surge - Andrew Bailey raised concerns about rising inflation in the UK, which has surpassed the central bank's target.
- The increase in employer National Insurance contributions is expected to affect wages and employment dynamics.
- The Bank of England is adopting a cautious approach to potential interest rate changes amid these economic uncertainties.
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politics 2024-11-25 21:52
Missouri court upholds photo ID voting law amid criticism - Missouri's Attorney General declared the ruling as a win for election security.
- The law was upheld despite criticism over potential disenfranchisement of voters.
- The court's decision may set a precedent for similar laws in other states.
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politics 2024-09-27 21:50
Bank of England's Bailey emphasizes gradual rate cuts amid low inflation - Inflation rates in France and Spain have decreased to 1.5% and 1.7%, respectively, while US inflation is at 2.2%.
- The Bank of England has only cut interest rates by a quarter point, contrasting with more aggressive cuts by the European Central Bank and the US Federal Reserve.
- Experts warn that the Bank's cautious approach may hinder economic growth and that quicker rate cuts are necessary to support small businesses and mortgage holders.
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business, society 2024-09-25 23:01
Bank of England's Bailey warns of gradual interest rate decline - Inflation has decreased from 11.1% in October 2022 to 2.2%, close to the Bank's target.
- Andrew Bailey voted to keep borrowing costs at 5% and does not foresee a return to near-zero rates.
- The Bank of England will implement a gradual reduction in interest rates as inflation stabilizes.
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business, politics 2024-08-23 15:55
Bank of England to Discuss Future Rate Cuts - Governor Andrew Bailey of the Bank of England will discuss the potential need for future rate cuts.
- Bailey emphasizes the importance of maintaining a steady course in response to labor market shocks.
- The central bank is considering the implications of easing off current restrictions over time.
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