Bank of England Governor Bailey signals caution on future rate cuts amid persistent UK inflation.
Bank of England Governor Andrew Bailey signaled a cautious approach to future rate cuts, stating that it's "too early to declare victory" against inflation. Bailey's remarks came after Federal Reserve Chairman Jerome Powell indicated that the U.S. Fed will cut rates in September. Despite a smaller persistent inflation element in the UK, Bailey emphasized that it's still present and necessitates a steady course on interest rate adjustments.
August 23, 2024
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