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Bank of England chief sees downward interest rate trend as UK hunts for growth
Bank of England Governor Andrew Bailey told CNBC Tuesday that “the path of interest rates will continue to be gradually downwards,” as the central bank juggles taming inflation and stoking elusive economic growth. “I haven’t changed my mind on that,” he told CNBC’s Annette Weisbach in Sintra, Portugal, where the European Central Bank is holding a forum. “But in terms of where are we going to go in the next meeting? Well, we’ll see.” Economists expect policymakers will cut rates by 25 basis points at their next gathering in August, which would take the central bank’s base rate from 4.25% to 4%. But ... (full story)
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