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World

Andrew Bailey’s pessimistic pre-Budget warning

23 October 2024

3:34 AM

23 October 2024

3:34 AM

With a week to go until Rachel Reeves’s first Budget, Andrew Bailey has today sounded a note of gloomy caution. Speaking at a Bloomberg event in New York, the Governor of the Bank of England channelled the mythological Cassandra, whose warnings were accurate, but ignored. He told his audience today that ‘Cassandra was fated by the god Apollo to utter true prophecies but not to be believed’.

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