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Bailey Warns Populists Threaten Bank of England Independence

9/5/2026

Summary

Story summary

Bank of England Governor Andrew Bailey warned that populist politicians threaten the bank's independence in the United Kingdom.
He said central bankers must explain decisions to the public or risk being called an “unrepresentable elite”.
The Monetary Policy Committee split over Iran-war inflation, keeping the Bank Rate at 3.75% in July.
Bailey will appear before the Treasury select committee next week to explain his thinking on quantitative tightening.

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Story summary

Bank of England Governor Andrew Bailey warned that populist politicians threaten the bank's independence in the United Kingdom.
He said central bankers must explain decisions to the public or risk being called an “unrepresentable elite”.
The Monetary Policy Committee split over Iran-war inflation, keeping the Bank Rate at 3.75% in July.
Bailey will appear before the Treasury select committee next week to explain his thinking on quantitative tightening.