Bank of England Governor Andrew Bailey has warned politicians against slashing regulation for the sake of it, saying there is “no trade-off” between growth and financial stability.

The cost of the 2008 global financial crisis (GFC) should not be forgotten during a backlash against the burden of financial regulation, Bank of England Governor Andrew Bailey said on Tuesday. "There is a reaction taking place against regulation,

"We expect to be able to cut bank rate further as the disinflation process continues, but we will have to judge meeting by meeting, how far and how fast," Bailey told a news conference

The Bank of England faces a "very challenging" outlook as it navigates the impact of its own management of the money supply.

The cost of the 2008 global financial crisis (GFC) should not be forgotten during a backlash against the burden of financial regulation, Bank of England Governor Andrew Bailey said on Tuesday, warning the bank needed to monitor new vulnerabilities.