BoE's Call for Economic Growth Acceleration

In a recent Treasury Select Committee hearing, Bank of England (BoE) Governor Andrew Bailey emphasized the necessity to enhance the United Kingdom's economic growth rate. Bailey expressed his strong support for the efforts made by both the current and previous governments aimed at stimulating growth.

Highlighting the prolonged period of low potential growth rate since the financial crisis, spanning over 15 to 16 years, Bailey pointed out, "Fundamentally, financial stability is a foundation for growth. There isn't a trade-off." This statement underscores the critical link between financial stability and economic growth, dismissing any notion of a compromise between the two.