Nigel Farage Challenges Bank of England Governor to Cut Interest Rates and Reform Cryptocurrency Policy

Nigel Farage, leader of Reform UK, is set to meet Bank of England Governor Andrew Bailey to press for cuts in interest rates to stimulate economic growth, criticizing the current monetary policy for contributing to the UK's slow economic performance. Farage also plans to challenge the Bank's cautious stance on cryptocurrency, urging the institution to embrace digital assets and create a strategic reserve of Bitcoin, which he views as part of the 'crypto-revolution.' His deputy, Richard Tice, will question the Bank's quantitative easing policies, which Reform UK argues have caused significant taxpayer losses and should be reconsidered ahead of the upcoming Budget. The meeting marks a significant moment for Reform UK, reflecting growing engagement from senior figures in Whitehall and the City with the party's economic platform. Although Bailey has acknowledged economic weakening due to reduced consumer spending, he has maintained the interest rate at 4%, signaling a cautious approach amid inflation concerns. Farage and Tice's interaction with Bailey highlights tensions between Reform UK's push for more aggressive monetary easing and the Bank's conservative policy stance.