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Bloomberg Television

BOE Governor Bailey worries about a fragmented world 🥳

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Governor I I know you’re very reluctant to talk you know what possible trade Wars or tariffs from the US would look like on the economy but would they be inflationary or would they reduce growth well I mean we don’t know the answer that question I think yeah what I will say is look I you know the UK is a very open economy um so obviously this area matters the chancellor has said yesterday and today quite rightly uh and I will join her in this that she will make the case for open markets and free trade and I will strongly supporter in this because I’m a very strong supporter of free trade I think you would expect the UK to do that we have a very proud history of free trade in this country um we will you know we will no doubt you know say our piece and make our case but we’ll see I think it’s important just to say look let’s get let the new US Administration get into office we will work with them we worked with all pre I’ve worked with a lot of us administrators over my career we will work with the next us Administration just as we do with the current one and we did with the previous Trump Administration by the way I expect constructive relations and we will have a good dialogue but are you expecting a more fragmented world and what does that mean for Central Bank policy well I I I mean I worry about a more fragmented World in a more General sense I’m not saying this is entirely due to you know the US administration because it clearly isn’t there’s a lot of things going on in the world which are a you know very tragic and B are a risk to the fragmentation of the world economy and the fragmentation of the world economy is not a good thing clearly

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