Bank of England (BoE) Governor Andrew Bailey said late Monday that the UK central bank faces a challenge to raise the potential growth rate of the economy.
Key quotes
There are strong headwinds against boosting potential growth.
We must facilitate AI as the most likely general-purpose tech that can move the needed on growth in the economy.
We must also invest in new skills in the labour force.
We have been forcefully reminded that trade policy has to include a national security dimension.
Businesses are currently keeping all options open on how to respond to national insurance rises.
Market reaction
At the time of press, the EUR/USD pair was up 0.27% on the day at 1.0801.
