By Ahmed Abdelsalam
Bank of England Governor Andrew Bailey said closer ties with the European Union would boost UK economic growth, in a rare public comment on the country's post-Brexit relationship with the bloc.
Economic benefits of alignment
Bailey highlighted that reduced trade barriers and regulatory alignment with the EU could enhance productivity and investment. The remarks come as the UK government seeks to reset relations with Brussels under Prime Minister Keir Starmer.
Central bank perspective
The governor emphasized that the Bank of England's role is to monitor economic conditions, and that closer EU integration would support the bank's mandate for price stability and growth. He did not advocate for specific policy changes but outlined the economic case for deeper cooperation.
