UK Times with the report:

Bank of England Governor Bailey 30 November 2023

The Times is gated, but in brief:

  • Andrew Bailey, the governor of the Bank of England, has hit back at critics who have claimed he has taken an “ultra pessimistic” view of the UK economy.
  • This week, Bailey painted an extremely dim picture of the UK economy, claiming that its present potential growth trajectory is the “worst” he has seen in his career.
  • “I’ve been written up this week as being an ultra-pessimist, but I don’t see it that way. I see it as a realist view,” Bailey told Staffordshire’s Daily Focus newspaper.
  • Bailey added that in order to revive the UK economy’s fortunes, policymakers must focus on “getting our sleeves rolled-up and tackling the issues we face”.