BoE's Focus on US Tariffs and UK Economic Growth

Bank of England Governor Andrew Bailey, in a recent interview with CNBC, highlighted the central bank's concern over the potential "growth shock" stemming from tariffs imposed by the Trump administration. Despite these concerns, Bailey reassured that the UK is not on the brink of a recession.

"We're certainly quite focused on the growth shock," Bailey stated, emphasizing the adverse effects these tariffs could have on the UK's economic growth.

Monetary Policy Considerations Amid Economic Uncertainties

When questioned about the Bank of England's upcoming monetary policy decisions, Bailey pointed out the need to balance the negative impacts of US tariffs on growth against the inflationary pressures from weak supply. "We will take into account arguments on both sides," he remarked, underscoring the complexity of the current economic landscape.