Bank of England Governor Andrew Bailey said on Wednesday he expects four interest rate cuts next year if the economic outlook remains on track.
The statements of the governor of the Bank of England to the Financial Times were as follows:-
- Inflation fell faster than expected a year ago.
- There are a number of possible paths ahead.
- The basic scenario that assumes that the Bank of England will commit to lowering interest rates is gradual.
- The Bank of England will have to intervene more aggressively to keep the deflationary process on track.
- Inflation has fallen faster than we thought, a year ago we were saying that today inflation will be about 1% higher than it already is.
