Bank Governor: Budget Must Soothe Bond Markets

Andrew Bailey tells chancellor ‘whatever the stance of fiscal policy, it must be credible and be seen as such by financial markets’ Business live – latest updates The Bank of England governor, Andrew Bailey, has urged the chancellor, John Healey, to agree a budget that convinces financial markets after the UK’s medium-term borrowing costs hit a fresh 19-year high. With investors offloading government bonds previously considered safe havens amid fears of rising inflation, Bailey told all governments caught in the crosshairs of financial speculators that they needed to avoid market turmoil that…