A new job and a new crisis: Andrew Bailey arrives at the Bank
by Richard Partington from on (#50QG4)
The incoming governor will have no time to settle in as fears of recession grow and the clamour for rate cuts intensifies
Andrew Bailey will take over as Bank of England governor on Monday as the worst economic crisis since the 2008 financial crash unfolds, amid growing expectations that he will further cut interest rates to protect jobs and growth.
The new governor is no stranger to baptisms of fire as he prepares to replace Mark Carney in the hot seat, having started his last job - as boss of the Financial Conduct Authority - a week after the Brexit vote.
We've not heard the last from the Bank of England. Much will depend on the speed with which the virus progresses
Continue reading...