Andrew Bailey says he and heads of other institutions have duty to ‘challenge back’ populist narratives

• Business live – latest updates

The governor of the Bank of England has urge the world’s leading global institutions to fight back against the rise of populism, warning that it represents one of the biggest threats to improvements in living standards.

In a thinly veiled response to Donald Trump’s attempts to interfere with the independence of the US Federal Reserve, Andrew Bailey said that he and the heads of other institutions had a duty to “challenge back” populist narratives.