The Bank of England (BoE) is open to discussions with Britain's government about new ways to help boost economic growth by paring back regulatory requirements for the financial services industry, Deputy Governor Sam Woods said on Monday.

The Bank of England’s regulatory arm set out a string of ideas that could meet the government’s call to boost economic growth, including a new “concierge service” for foreign firms entering the UK market and streamlining the process for creating new rules.

The Bank of England should move quickly to bring down interest rates given signs of a slowdown in Britain's economy, Alan Taylor, the BoE's most recently appointed interest rate setter, said on Wednesday.

Deputy governor Sam Woods told Keir Starmer that delivering economic growth and 'encouraging responsible risk-taking', was not its main focus.