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flag Bank of England's Governor hints at interest rate cuts if job market slows due to higher NICs.

flag The Bank of England's Governor, Andrew Bailey, suggested that the bank could cut interest rates if the UK jobs market continues to slow due to increased National Insurance Contributions (NICs) for employers. flag He noted that businesses are adjusting employment and offering smaller pay rises, leading to potential "slack" in the economy that could reduce inflation. flag The current base rate of 4.25% will be reviewed by the Monetary Policy Committee on August 7. flag Bailey believes the path for rates is downward, as the economy grows below its potential.

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