LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Thursday that the central bank would have be careful about cutting interest rates because the fall in inflation pressures has been very gradual.
“We have to be quite careful at this point in how we calibrate our response because we’re still seeing a very gradual fall in inflation. We need to accumulate the evidence,” Bailey told broadcasters.
“We really do to have wait to see that evidence unfold.”
Earlier on Thursday, the BoE held its key rate at 4.5% and warned against assumptions that borrowing costs would be cut over its next few meetings as it grappled with uncertainty overhanging the British and world economies.
(Writing by William Schomberg; editing by Suban Abdulla)
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