Politics explained

Will Bank of England governor survive Tory pressure to quit?

Andrew Bailey is in the firing line from Conservative MPs over his handling of the inflation crisis. Adam Forrest takes a look at whether resignation calls will see his early exit

Monday 26 June 2023 00:10 BST
Bank of England governor Andrew Bailey
Bank of England governor Andrew Bailey (PA)

Legend has it that Andrew Bailey’s wife once faced down a grizzly bear at the family’s holiday home in Idaho. The Bank of England governor may wish to employ his partner to fend off the ferocious Tory MPs now clawing at his door.

Conservatives have certainly tried their best to give Mr Bailey a mauling this week – accusing him of being “asleep at the wheel” in dealing with rising inflation after this week’s grim figures panicked backbenchers afraid of losing their seats.

Former cabinet minister Jacob Rees-Mogg said the governor and his team had “bungled” by being much too complacent on soaring prices in recent years, calling Mr Bailey “chief ostrich” with his head in the sand.

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