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On Thursday, November 2, 2023, Andrew Bailey, the Governor of England (Boe), during a press conference on the bank’s banking policy report in London, the UK, Thursday, November 2, 2023. The Bank of England has left its benchmark for a 15-year high, excluding the opportunity to release its fight against the inflationary future. Photographer: Holly Adams/Bloomberg via Getty Images
Bloomberg | Bloomberg | Gets the image
The Bank of England focuses on the potential shock of growth in the UK from tariffs in the US, if there is a slowdown in World Trade, Central Bank Governor Andrew Bailey said on Thursday.
“We are definitely fully focused on the shock of growth,” Bailey Eisen CNBC said in an interview at Bank Bank.
Bailey added that he has not seen the UK now as close to the recession.
IMF Earlier this week dropped Its growth forecast in 2025 for the UK up to 1.1% of 1.6%, citing the impact of US President Donald Trump’s trade tariffs, higher borrowing costs and increasing energy prices.
However, economic forecasting remains understated in uncertainty, as countries participate in negotiations with US officials over Trump waving a versatile tariff policyCurrently on the pause. The United States has imposed 25% of the tariffs on steel, aluminum and 10% fee on other British exports.
UK policy expressed hopes to reach a trading deal with the White House, and Vice President JD Vance said have a “good chance” Agreements.
Bank of England carried out interest rates by 4.5% At the March meeting, before Trump shocked the world with the scale of his tariff announcement.
Now the markets see that the BOE decline is up to 4% by August slowing inflation.
This news story and will soon be updated.
