In an exclusive interview with the Guardian, Bank of England Governor Andrew Bailey noted the likelihood that the bank will become more aggressive in cutting interest rates provided that the news on inflation continues to be good.
The markets now expect a 25 basis point interest rate cut next November and a 40% chance of a similar cut in December.
The Bank of England kept interest rates steady at 5% in September, after a quarter-point cut in August.
He also responded to claims by former prime minister Liz Truss that the Bank of England was part of the deep state that thwarted her plans, and the governor said that Truss's problems were self-made by her.
It was these statements by Andrew Bailey that led to the decline of the pound sterling This Morning against most currencies, which we expect to be limited declines and the Pound Sterling returns to its upward trend again.
