UK financial institutions are ‘global public good’, says Bailey

BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts

Andrew Bailey
Andrew Bailey
Bank of England

Bank of England governor Andrew Bailey has said the UK’s financial infrastructure is a “global public good”, requiring international standards and co-operation to maintain.

Bailey, speaking at a conference in Dublin on November 8, warned against fragmentation in both global financial markets and trade. Regarding the latter, Bailey said the pandemic and the Russian invasion of Ukraine had encouraged fragmentation in global commercial networks.

He also commented that Brexit “has led to a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account