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BOE Governor Bailey ‘Open to Review’ of Mandate, Telegraph Says

  • Agreement between bank, government not revisited for decades
  • Truss, front-runner for PM, wants to be tough on inflation
Andrew Bailey
Andrew BaileyPhotographer: Hollie Adams/Bloomberg

Bank of England Governor Andrew Bailey would be “open to a review” of the central bank’s mandate after Foreign Secretary Liz Truss criticized its approach to inflation, the Telegraph reported, citing a person familiar with the situation.

Bailey made the comments during a telephone call with UK Chancellor Nadhim Zahawi on Aug. 4, the Telegraph said, citing a person it didn’t identify. His remarks look at odds with a recently-published letter in support of central bank independence.