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Bank of England Governor downplays rate hike chances
The Governor of the Bank of England, Andrew Bailey, stated that the likelihood of interest rate hikes is not certain and that any changes to monetary policy depend on economic and geopolitical developments, rather than a predetermined schedule. He emphasized that markets were escalating their expectations beyond the most probable path for the bank's policy due to concerns over rising energy prices. Currently, the market expects a quarter-point increase by the end of the year and two more in 2027. Meanwhile, the bank has kept interest rates unchanged since late February, in contrast to the European Central Bank, which plans to raise them on Thursday.
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