The Latest Breaking News from Andrew Bailey

AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.

As the use of artificial intelligence (AI) becomes more widespread, the Bank of England's financial policy committee has grown increasingly concerned about the systemic threats posed by the broader adoption of AI.

The Bank of England says it will make an assessment next year about the risks posed by artificial intelligence and machine learning

The OECD slashes its economic growth forecast for UK, while increasing expected inflation rate

Cheerful news: Andrew Bailey, the Bank of England governor, thinks the economic outlook for the year ahead is “worst I have ever seen” — a challenge of such severity that it should be the main preoccupation of both the Government and its possible Labour heirs. Instead, fizzing anxiety at Westminster…

The governor of the Bank of England offered a scathing assessment of Britain’s future, saying interest rates will remain at 15-year highs and the rate at which inflation is falling will slow markedly this month

Might interest rates begin to fall soon? With inflation dropping below five per cent and the UK economy flirting with recession, it's the question everyone from the prime minister to first-time buyers is asking. But this morning, the Governor of the Bank of England poured cold sick all over the…

Andrew Bailey again dismisses speculation about rate cuts, saying fight to bring inflation down to 2% is ‘hard work’

The Prime Minister has achieved one of his five priorities for the year, but the others remain in doubt.

Andrew Bailey fears markets are downplaying risks of persistent inflation, as new figures show UK borrowing so far this year is £16.9bn less than expected

Andrew Bailey warns more work to be done to bring inflation back to 2% target and further rate rises may still be necessary