Collaborative Efforts Boost UK Economic Stability

Rachel Reeves, Britain's finance minister, emphasized the close collaboration between the government and the Bank of England to foster economic competitiveness. She noted regular discussions with Bank Governor Andrew Bailey, highlighting their joint trip to China as an example of ongoing cooperative efforts for financial stability.

In an address to Parliament on Tuesday, Britain's finance minister Rachel Reeves acknowledged the ongoing cooperation between the government and the Bank of England to maintain a competitive national economy.

Reeves responded to questions regarding her communication with Bank of England Governor Andrew Bailey on strategies to enhance financial stability. She affirmed their regular discussions on the matter.

Reeves also highlighted her recent collaboration with Bailey during a delegation to China, underscoring their joint commitment to bolstering the UK's global economic standing.

(With inputs from agencies.)