BoE governor assures chancellor that UK markets 'are functioning effectively'

Banking system 'resilient'

Linus Uhlig
clock • 2 min read

Governor of the Bank of England Andrew Bailey has assured chancellor Rachel Reeves that the UK’s financial structure is continuing to stand strong, as US-imposed tariffs wreak havoc across global markets.

Speaking in the House of Commons on Tuesday (8 April), Reeves said Bailey confirmed to her that "markets are functioning effectively and that our banking system is resilient".  The chancellor's comments emerged after US President Donald Trump slapped the UK with the baseline 10% tariff on all exports across the Atlantic as part of his trade war agenda. Addressing directly the impact of Trump's measures on families, businesses and employment, Reeves said her government has been working "flat out to protect jobs, exports and livelihoods", adding: "We have got your backs."  She acknow...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Why human connection remains central in a digitally enabled advice sector

Why human connection remains central in a digitally enabled advice sector

'It is clear that the sector is moving through a significant period of transformation'

Tim Riseborough
clock 17 December 2025 • 3 min read
Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read