Bank of England's Andrew Bailey: Rate cuts are 'in play' for MPC meetings this year

Optimistic outlook

Bank of England governor Andrew Bailey said rate cuts are "in play" for Monetary Policy Committee (MPC) meetings this year.

In an interview with the FT, he said the situation was more positive as tighter monetary policy has reduced the risk of a wage-price spiral. Bailey argued that policymakers do not need to wait until wage growth halves from its current level of 6.2% for rate cuts to occur, as he is not concerned about the inflationary risk because "monetary policy has done its job". "You need to have confidence that it is heading in that direction," he said. Andrew Bailey: No need for inflation to come back to 2% target before cutting rates Bailey also spoke on the market pricing in multiple cuts fo...