BoE's Bailey: UK not close to recession - Breaking The News

BoE's Bailey: UK not close to recession

24 April

1 min read

EPA-EFE/TOLGA AKMEN

Bank of England Governor Andrew Bailey told CNBC on Thursday that the central bank is focused on the possible "growth shock" from tariffs imposed by the administration of United States President Donald Trump, but noted he doesn't think the United Kingdom is close to a recession at the moment.

"We're certainly quite focused on the growth shock," Bailey noted, stressing the tariffs could negatively impact UK growth.

Asked about the Bank of England's next monetary policy decision, Bailey stressed the bank will take into account "arguments on both sides" about the negative impact of US duties on economic growth and the "upside effect" of weak supply on inflation.

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