Bank of England Governor lessens hike chances

The governor of the Bank of England, Andrew Bailey, stated that he does not see a necessary need to raise interest rates and that changes in monetary policy depend on economic and geopolitical developments, rather than a fixed predetermined schedule. He explained that the market is increasing its expectations for rate hikes beyond the most probable path due to concerns over rising energy prices. The Bank of England will announce its decision on interest rates on September 17, with forecasts continuing to suggest a quarter-point increase until the end of the year and into 2027.

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