Bank of England Governor Andrew Bailey said if the economy and inflation evolve in line with the central bank's expectations, there would be reason to cut interest rates.
Bailey said that "all meetings are possible." Earlier, the Bank of England voted to keep interest rates at a 16-year high of 5.5%.arcaderoomnearme.25% unchanged.
"If the situation develops as the forecast suggests... A less restrictive policy path is likely to be adopted. They are all conditional."
“arcaderoomnearmeWe have changed our view of the persistent second-round effects of inflation. We believe that there is evidence that it will not be as obvious as we thought."
arcaderoomnearmeHe used Thursday's meeting to curb market bets on a slower interest-rate cycle, saying there was a "high bar" for comment on market interest rate expectations.
"A lot of recent market trends seem to have come from the United States."
"The inflation dynamics here are different from those in the United States. As far as our economy is concerned, the situation is very different."