Financial Conduct Authority (FCA) chief executive and frontrunner of the Bank of England (BoE) leadership race Andrew Bailey has warned politicians not to interfere with the central bank’s independence.
According to Bailey, the BoE’s independence is a “core underpinning” of economic stability, the Sunday Times reported.
Current FCA head Bailey is among the favourites to succeed Bank of England governor Mark Carney when he steps down next year, despite a series of City scandals during his time as head of the watchdog.
Both Carney and the central bank have received criticism from pro-Brexit politicians as a result of their pessimistic Brexit forecasts.
However, Bailey stressed the importance of the BoE retaining its independence, stating: “Central bank independence is a very important underpinning that has to be there all the time.
“You have to be ready to defend it and advocate it in different contexts.”
Latest News
-
Bank of England holds interest rates at 4.75%
-
IHT receipts increase by 11% year-on-year
-
Lendco renews £400m BTL warehouse line
-
Housing market beats expectations in 2024, Halifax finds
-
Homeowners ‘pessimistic’ over economy’s future, study finds
-
Annual price growth jumps to 3.4%, Land Registry data shows
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
Intergenerational lending
MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage
Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories