MNI BRIEF: Lighter Regulatory Touch Could Help Growth - Bailey

Bank of England Governor Andrew Bailey said Friday the post-Financial Crash regulatory regime could be loosened somewhat to help boost growth as new technology comes on line.

Speaking at the Klaas Knot Farewell Symposium hosted by the ECB, Bailey said although a looser regulatory touch could be helpful, he believed an uptick in growth will be driven by new technology rather than deregulation.

“We need a financial system that is ready and able to finance the next general purpose technology advance,” he said, whilst underlining that there should be "no trade-off between financial stability and objectives like growth and competitiveness."