Overview

• Speaking in Amsterdam at a Dutch central bank event, the Bank of England governor cautioned that easing safeguards risks a repeat of pre‑crisis mistakes.
• He said there is no trade-off between financial stability and competitiveness, rejecting claims that post‑2008 rules caused weak investment and productivity.
• Bailey cited Hyman Minsky’s idea that fading memories of crises fuel pressure to unwind protections.
• The stance follows his July caution on preserving bank ring‑fencing and a reported decision to block a Treasury‑organised meeting on Revolut’s licensing.
• The remarks land as Chancellor Rachel Reeves pushes the Leeds Reforms, with the FCA and PRA also advancing targeted reductions in regulatory burdens.