Bailey Cites Pressures Behind Rising Public Debt
Bank of England Governor Andrew Bailey stated that weak productivity and demographic shifts are driving up public debt and borrowing costs globally. He highlighted structural challenges affecting bond markets as yields reach multi-year highs.
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Bank of England Governor Andrew Bailey said structural productivity challenges and post-pandemic shocks are driving up public debt across advanced economies. The rise in debt is directly pushing up global borrowing costs, Bailey told an audience in United Kingdom during a Friday conference. The comments highlight growing pressures on bond markets as yields hit multi-decade highs.
