How much will interest rates fall in the UK?

Andrew Bailey, Governor of the Bank of England, said inflation has fallen “faster than we expected” but still warned that more progress would be needed on services inflation. Speaking at a meeting of the Institute of International Finance in Washington, Bailey said central banks around the world were seeing a “good story” on inflation. “Disinflation — and the UK is part of this — has actually taken place faster than we expected it to,” he said. Bailey had previously suggested that the Bank might take a more “activist” approach to cutting interest rates if there continued to be progress on inflation. However, he struck a more cautious note in Washington, pointing to the continued persistence of services inflation. “We’ve got a very unbalanced mix of inflation components and services inflation remains higher than is consistent with the target,” he said. Get more on the story https://www.cityam.com/andrew-bailey-inflation-has-fallen-faster-than-expected/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam