Nigel Farage's Reform Party Seeks Bank of England Control Amid By-Election Loss in Wales

Nigel Farage has indicated he would remove Andrew Bailey as Bank of England governor if he becomes Prime Minister, suggesting a potential shift in the traditionally independent role of the central bank. Farage criticized Bailey's handling of monetary policy, aligning his stance with former U.S. President Donald Trump's confrontational approach toward the Federal Reserve. Despite Bailey's term running until 2028, Farage anticipates a snap general election could enable his premature removal, though current laws restrict such action to specific conditions. Farage also condemned the Financial Conduct Authority as "utterly useless" and pledged a comprehensive overhaul of financial regulatory bodies to reinvigorate Britain's economy and foster cryptocurrency growth. His Reform UK party recently met with Bailey to discuss crypto policies, but Farage remains firm on his intent to reset financial governance structures. This stance highlights Farage's broader agenda to increase political influence over monetary policy and reshape the UK's financial regulatory framework.