New UK finance minister tells BoE governor to meet him twice a week
Reuters
Published Sep 07, 2022 15:38
LONDON (Reuters) - British finance minister Kwasi Kwarteng and Bank of England Governor Andrew Bailey will meet regularly, initially twice a week, to coordinate economic support over the coming months, the finance ministry said on Wednesday.
"The Chancellor and the Governor agreed to re-instate weekly meetings - starting with bi-weekly meetings in the first instance - and coordinate closely to support the economy over the coming months," the statement said.
The two met earlier on Wednesday following Kwarteng's appointment under new Prime Minister Liz Truss.
"The Chancellor and Governor agreed that getting inflation under control quickly is central to tackling cost of living challenges," the statement said. "The Chancellor confirmed that over the medium term, the government is committed to seeing debt falling."
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.