Andrew Bailey tells MPs pattern of trade deals and lower tariffs ‘blown up’ with serious impacts for global economy
The Bank of England governor, Andrew Bailey, has told MPs that the future path of interest rates in the UK has become more uncertain because of Donald Trump’s chaotic trade policy.
Asked about the impact of on-off tariffs for the Bank’s policymaking by the cross-party Treasury select committee, Bailey said “the path remains downwards, but how far and how quickly is now shrouded in a lot more uncertainty, frankly”.