Governor Bailey links UK borrowing rate rise to US election and UK budget uncertainty, warns of economic impacts.

Bank of England Governor Andrew Bailey attributes the rise in UK borrowing rates to uncertainty surrounding the US election and the UK budget. He warns of potential economic impacts from Trump's proposed tariffs and emphasizes the need for dialogue with the US to prevent global economic fragmentation. Bailey expects gradual interest rate cuts and will discuss these and other economic issues with MPs.

November 19, 2024
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