Bank of England Governor Andrew Bailey said: “The world is currently witnessing political and trade turmoil in a climate of uncertainty.”
Billy added at the 2nd AlUla Conference on Emerging Market Economies 2026: Although the global economy has shown great ability to manage change over the past few years, global markets currently face a number of challenges.
He explained that the current cost of living and market conditions are important given the exposure to financial risks and the search for the optimal use of available technology.
He noted that markets are becoming more cautious in managing economic transformation around the world, especially as these measures may impact financial markets.
Billy said: The growing use of artificial intelligence poses new challenges for the global economy, given its impact on the working mechanisms of markets.
He added that protectionism and the imposition of tariffs not only affected monetary policy but also caused political and trade instability.
Bank of England Governor Andrew Bailey said the world was currently witnessing political and trade turmoil amid uncertainty.
Speaking during the 2026 Second Emerging Market Economies AlUla Conference, Mr. Bailey added that although the global economy has shown great resilience in managing the transition over the past few years, global markets are currently facing a number of challenges.
He explained that the current cost of living and market conditions are critical, especially considering the exposure to economic risks and the search for optimal use of available technology.
He noted that markets are becoming more cautious in managing economic transitions around the world, especially as these measures may impact financial markets.
Mr. Bailey said the increased use of artificial intelligence is a new challenge for the global economy, given its impact on market mechanisms.
He added that protectionism and tariff impositions not only affect monetary policy but also lead to political and trade turmoil.
