BoE's Bailey: We must raise economy's growth rate - Breaking The News

BoE's Bailey: We must raise economy's growth rate

29 January

1 min read

EPA-EFE/TOLGA AKMEN

Bank of England (BoE) Governor Andrew Bailey stressed on Wednesday that the growth rate of the economy in the United Kingdom must be raised.

Speaking at a Treasury Select Committee hearing, Bailey noted that he has been "very supportive of the work" of both the current and previous governments, which have been trying to boost growth. He mentioned that the UK has had a low potential growth rate ever since the financial crisis, "going back 15, 16 years."

"Fundamentally, financial stability is a foundation for growth. There isn't a trade-off," he underlined.

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