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Evening Standard
Evening Standard
Anna Wise

Low growth and successive shocks erode public finances, Bank boss says

Andrew Bailey Budget EY John Healey PA Graphics
Andrew Bailey said it is not his job as a central banker to comment on fiscal policy (Doug Peters/PA) - (PA Wire)

Low economic growth and a quick succession of supply shocks can erode the public finances and leave governments with less of a cushion to support people through a downturn, the Bank of England boss has cautioned.

Andrew Bailey said Russia’s war in Ukraine and the conflict in the Middle East are examples of large negative supply shocks.

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