Bank of England Governor Andrew Bailey discusses the outlook for the UK economy and inflation as the central bank decided to keep interest rates unchanged on Thursday. He also talks about former ambassador Peter Mandelson's ties with pedophile financier Jeffrey Epstein and the prospects for Kevin Warsh as the next chair of the Federal Reserve. Bailey speaks in an interview with Bloomberg's Francine Lacqua. ...

Monetary Policy - Bank of England policymaker Catherine Mann believes holding rates is appropriate for the current period [1] - The statement addresses the risk inflation poses to the UK economy and potential future actions by the central bank [1]

Immigration Policy Impact - The UK economy's potential impact from Nigel Farage's immigration plans, including ending indefinite leave to remain, remains unclear [1] Political Implications - Nigel Farage avoided questions regarding the economic consequences of his proposed immigration policies [1]

UK Economy - The UK economy's depressing story is being told at the Fringe festival [1] Future Outlook - The show also addresses the future of the UK economy [1]

UK Economic & Political Uncertainty - Keir Starmer's initial reluctance to support Rachel Reeves raises questions about internal party dynamics and potential leadership challenges [1][2] - Speculation suggests a possible change in Chancellor of the Exchequer, potentially impacting market confidence and government stability [3] - The government's backtracking on proposed welfare changes reveals a £5 billion fiscal hole, hindering economic growth and tax cut promises [5] Market Reaction & Fiscal Policy - The UK market faces potential instability, reminiscent of the "Liz Truss" era, with concerns over unfunded tax cuts and bond market reactions [4][6] - Rachel Reeves' credibility with the bond market is crucial; her departure could trigger increased speculation and market volatility [7][8] - The ability to grow the UK economy and avoid tax increases is uncertain, given the government's recent policy setbacks [5][6] Budget & Economic Outlook - The upcoming budget, to be presented by either Rachel Reeves or a new Chancellor, faces significant challenges in achieving economic growth without raising taxes [6] - Failure to pass proposed changes raises concerns about the government's ability to manage the economy and fulfill its promises [5][6] - The UK is in a "waiting period," with close attention on key figures and their potential impact on economic policy [4][5]