The Bank of England’s governor, Andrew Bailey, has said the UK economy faces a “growth shock” as a result of Donald Trump’s trade policies. Speaking on the sidelines of the International Monetary Fund (IMF) meetings in Washington, Bailey said that while he did not think the UK was close to recession at the moment, “we are certainly quite focused on the growth shock”. The IMF earlier this week downgraded its 2025 growth forecastfor the UK to 1.1%, from the 1.6% it had been expecting as recently as January before the tariffs were announced. Britain’s economy has struggled for momentum since
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