UK business minister Rees-Mogg backs BoE's 'respected' Bailey

Asked on Sky News if he had confidence in the job being done by the BoE governor, Rees-Mogg said: "Yes of course I've got confidence in the governor of the Bank of England. "It is so important that we have an independent Bank of England with a respected governor.

Britain's business minister Jacob Rees-Mogg said on Wednesday he had confidence in the governor of the Bank of England, Andrew Bailey, adding that he did not think there was a systemic problem in pension funds. Asked on Sky News if he had confidence in the job being done by the BoE governor, Rees-Mogg said: "Yes of course I've got confidence in the governor of the Bank of England.

"It is so important that we have an independent Bank of England with a respected governor. Andrew Bailey is a respected governor and the Bank of England's independence is operating as it should. He must make the decisions in relation to market support."

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