Bank of England boss Andrew Bailey calls to counter populism
Bank of England governor Andrew Bailey has urged a fightback against populism and isolationism in a thinly veiled attack on Donald Trump.
In a speech to central bankers and economists, he said: ‘Now is not the time to close the world to the benefits of trade.’
He warned that ‘the rise of so-called populism’ hampers efforts to meet global challenges and said institutions ‘have to challenge back, in deeds more than just words’.
A report published ahead of next week’s Davos summit found ‘significant uncertainties’ weighing on the outlook, with 53 per cent of 75 experts expecting global conditions to weaken.
Making a point: Andrew Bailey has urged a fightback against populism and isolationism in a thinly veiled attack on Donald Trump
Bailey’s remarks follow a joint statement by central bankers backing US Fed chair Jerome Powell after Trump’s attacks.
The IMF’s Kristalina Georgieva said: ‘I think that his [Powell’s] standing among his colleagues tells the story.’
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