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flag Bank of England governor signals likely gradual interest rate cuts to aid economic growth.

flag Bank of England Governor Andrew Bailey indicates that UK interest rates will likely decrease gradually to support economic growth while managing inflation. flag Economists predict a 25 basis point cut at the August meeting, lowering the base rate to 4%. flag The UK economy has recently shrunk due to trade tariffs and new taxes, despite efforts to boost growth. flag Bailey notes that inflation pressures, such as rising wages and energy costs, need to stabilize before inflation targets can be met.

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