BoE governor warns Middle East ceasefire would ‘still create uncertainty’

Bank of England Governor Andrew Bailey has cast doubt on the prospect of imminent interest rate cuts, stating that policymakers would need to be "much more confident" in the UK's economic prospects before considering such a move. Bailey's comments come as the UK economy continues to grapple with the aftermath of the pandemic and the ongoing cost-of-living crisis, with many businesses and households calling for relief from high borrowing costs. Despite growing pressure from politicians and economists to ease monetary policy, Bailey's cautious approach suggests that the Bank of England may be hesitant to cut interest rates in the near future. As the UK's economic outlook remains uncertain, Bailey's words are likely to be closely watched by investors and policymakers.

Andrew Bailey says interest rate cuts can only come when policymakers are ‘much more confident’