Andrew Bailey, the Bank of England governor, stated that if inflation news remains positive, the central bank may adopt a more aggressive stance on interest rate cuts.
Bailey noted that cost of living pressures have not been as persistent as anticipated, indicating that economic conditions could allow for potential rate cuts.
The pound fell to a two-week low after comments from Bailey suggested the Bank of England may be more open to cutting interest rates.
Bailey expressed careful monitoring of geopolitical developments in the Middle East, emphasizing their potential impact on economic stability and market conditions.
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