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 governor of the Bank of England has cautioned against unravelling regulation introduced after the global financial crisis amid UK Government-led efforts to cut red tape. Andrew Bailey insisted there was “no trade-off between economic growth and financial stability” in a speech delivered in London on Tuesday.

"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 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,