Andrew Bailey

Governor, Bank Of Engl

Search every verified Andrew Bailey interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Andrew Bailey, Governor of the Bank of England, appeared before the UK Parliament's Treasury Committee on July 14, 2026, to discuss financial stability. He stated that financial stability risks had increased since January, citing developments in the Gulf and Middle East conflict and what he described as "the big new development" of frontier AI and its cyber risk consequences. Bailey said that the recursive learning capacity of AI systems means they "develop their own abilities" and "learn to cheat and they learn to lie," adding that these models have a shelf life of only about two or three months before being replaced by more powerful versions. He also stated that "we will not get growth if we don't have financial stability." In other appearances, Bailey addressed the UK's economic outlook. He said that the Bank of England had held interest rates at 3.75% for the fourth consecutive meeting, with seven of nine MPC members voting to hold. Bailey stated that he believed the UK would have been at the inflation target if not for events in the Gulf, calling the overshoot "pretty much entirely due to events in the Gulf." He described the situation as "enormously frustrating" and noted that energy prices had come down but remained above pre-conflict levels. At the ECB Forum in Sintra, Portugal, Bailey said he was "very cautious" about forward guidance, stating that "it's much easier to put it in place than it is to take it away."