BoE/Bailey: Continuation of Interest Rate Cuts Likely into Next Year

Forex - Andrew Bailey, the Governor of the Bank of England (BoE), reiterated that gradual interest rate cuts are possible next year and added that the process of decreasing inflation is now firmly established. Speaking at the Financial Times Global Boardroom event, Bailey stated, “This kind of disinflation process is now well entrenched. There is still some distance to cover because although inflation has fallen to the target over the summer, we have been saying for some time that we will likely be slightly above the target.”