Bank of England Governor Andrew Bailey's Concerns Over US Tariffs

In a recent interview with CNBC, Bank of England Governor Andrew Bailey expressed his concerns regarding the potential "growth shock" stemming from the tariffs imposed by the United States under President Donald Trump's administration. Despite these concerns, Bailey reassured that the United Kingdom is currently not on the brink of a recession.

Impact on UK Growth and Monetary Policy

"We're certainly quite focused on the growth shock," Bailey emphasized, highlighting the adverse effects these tariffs could have on the UK's economic growth. When questioned about the Bank of England's upcoming monetary policy decision, Bailey pointed out that the bank would carefully consider "arguments on both sides" regarding the negative impact of US duties on economic growth and the potential "upside effect" of weak supply on inflation.