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Andrew Bailey blocks Rachel Reeves’s meeting with Revolut

  • Governor Andrew Bailey blocked Chancellor Rachel Reeves's meeting with Revolut due to concerns over political interference in the Bank of England's oversight process.
  • Chancellor Rachel Reeves aims for Revolut to receive full banking authorization quickly after receiving initial approval last year.
  • The incident suggests a growing rift between the Government and the Bank of England regarding financial oversight.
  • Bailey emphasized the importance of not compromising on financial stability in response to concerns about Reeves's approach to regulation.
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BizToc broke the news in on Tuesday, July 29, 2025.
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