Finance › Speeches › Andrew Bailey

The future of the multilateral economic system, and some news on the UK payments infrastructure

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, trade, fragmentation and geopolitics, development and emerging economies

AB
· Andrew Bailey Wiki · Bank of England WikiThe future of the multilateral economic system, and some news on the UK payments infrastructure

ContextSpeech at the annual Financial and Professional Services Dinner at Mansion House in London; the Bank of England protects monetary and financial stability and runs key UK payment systems.

Why it mattersBailey questions US views on trade imbalances and asks the IMF to coordinate, while announcing UK payment system upgrades.

Problems raised
  1. The multilateral system is under strain.
  2. US imbalances and tariffs raise questions.
  3. Excess imbalances create risks.
Solutions proposed
  1. Ask the US to explain its view of imbalances.
  2. Have the IMF coordinate agreed policies.
  3. Modernise UK payments infrastructure.
Read full speech on bis.org ↗

More from Andrew Bailey · Bank of England · all speeches

More speeches by Andrew Bailey

Other leaders on payments, digital money and crypto-assets