Global Market: BoE governor calls for balanced banking rules, rejects deregulation push
Bank of England Governor Andrew Bailey rejected calls for deregulation, emphasizing the need for balanced banking rules to support sustainable economic growth. Speaking at the Mansion House dinner, he argued that effective regulation is crucial for financial stability, especially in a soft economic environment. Bailey also highlighted the importance of calibrating capital requirements to ensure banks remain profitable while safeguarding customer deposits, and called for international cooperation on artificial intelligence oversight.