BoE governor Bailey assures Reeves that UK markets 'are functioning effectively'

Banking system 'resilient'

Governor of the Bank of England Andrew Bailey has assured Chancellor Rachel Reeves that the UK’s financial structure is continuing to stand strong, as US-imposed tariffs wreak havoc across global markets.

Speaking in the House of Commons on Tuesday (8 April), Reeves said Bailey confirmed to her that "markets are functioning effectively and that our banking system is resilient".  The chancellor's comments emerged after US President Donald Trump slapped the UK with the baseline 10% tariff on all exports across the Atlantic as part of his trade war agenda.  China vows to hit back after Trump threatens additional 50% tariffs on Chinese goods Addressing directly the impact of Trump's measures on families, businesses and employment, Reeves said her government has been working "flat out to...