Bank of England Governor Andrew Bailey states interest rate cuts are 'off the table'

Bank of England Governor Andrew Bailey has indicated that interest rate cuts are currently not under consideration, signaling that the central bank will maintain the cost of borrowing. Speaking at the ECB's annual forum in Sintra, Portugal, Bailey noted that while markets had anticipated reductions earlier in the year, the ongoing conflict in Iran has prompted policymakers to pause, with rate cuts now 'off the table at the moment'.