The Bank of England governor spoke to the Financial Times about the central bank’s projections.
Bank of England Governor Andrew Bailey hinted that four interest rate cuts could be in the pipeline over the coming year.
Markets are currently pricing in three rate cuts from the Bank of England over the next year, with investors expecting the institution to hold rates steady at its December meeting. Markets are currently pricing in a hold on interest rates at the Bank of England's December meeting, according to LSEG data, followed by three 25-basis-point rate cuts. If all four trims materialize, they would bring down the bank's key interest to around 3.75%, adding to the two BoE reductions this year to date. The institution began cuts over the summer, with Bailey telling reporters in November that the bank would need to take a"gradual" approach to lowering rates.
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