Central Banks
Bank of England’s Bailey Says Deregulation Can Be Bad for Growth
- Governor cautions against political rush to rip up rules
- Trump has prompted regulators like the BOE to pause Basel 3.1
Andrew Bailey
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Bank of England Governor Andrew Bailey has warned politicians against slashing regulation for the sake of it, saying there is “no trade-off” between growth and financial stability.
In a speech at the University of Chicago Booth School of Business in London, he cautioned that “there is a reaction taking place against regulation,” in particular the financial stability response to the 2008 financial crisis. “We must not forget the lasting damage done,” he said.