According to Wu Shuo, Bloomberg reports that Bank of England Governor Andrew Bailey stated that policymakers still believe that four rate cuts (of 25 basis points each) next year are the most likely scenario. He mentioned that the speed of inflation decline is "faster than we expected." In an interview recorded on Monday for the Financial Times Global Boardroom event, Bailey acknowledged that the market path in the Bank of England's November forecast was based on four rate cuts, which indeed brings inflation to the bank's target level of 2%.

Wu learned that, according to Bloomberg, Andrew Bailey, the Governor of the Bank of England, stated that policymakers still believe that four interest rate cuts (each by 25 basis points) next year are the most likely scenario. He mentioned that the pace of inflation decline is "faster than we expected." In an interview recorded for the Financial Times Global Board event on Monday, Bailey acknowledged that the market path in the Bank of England's November forecast was based on four rate cuts, which indeed brings inflation to the bank's target level of 2%.

Bank of England Governor: Expected to cut interest rates four times in the UK next year