Support for Structural Reforms

Clare Lombardelli, the Deputy Governor for Monetary Policy at the Bank of England (BoE), has publicly endorsed the structural reforms recently unveiled by Chancellor of the Exchequer Rachel Reeves. Lombardelli emphasized the bank's commitment to supporting initiatives that foster long-term economic growth and enhance the economy's supply side.

Patience with Policy Implementation

In a note of caution, BoE Governor Andrew Bailey highlighted that the effects of structural policies are not immediate. However, he expressed his strong support for the government's agenda, acknowledging the importance of such measures for the UK's future prosperity.