Bank of England Governor Andrew Bailey speaks on the policy outlook and responds to questions from the press after leaving the policy rate unchanged at 4% at the November meeting.
Key quotes
“We need to see downward path of inflation become more established before we cut rates again.”
“We are likely to continue to be on a gradual downward path for rates.”
“Provided there is no repeat of past rises in administered prices, this should shave another half percentage point off services price inflation in H2 2026.”
“We expect pass-through of non-wage labour costs including NICS rise to limit decline in services price inflation in next few months.”
“We have to remain careful that higher food and energy prices do not lead to 2nd-round effects on wage- and price-setting.”
“It is encouraging that inflation peak in sept was 0.2 percentage points below our August forecast.”
Source: https://www.fxstreet.com/news/bailey-speech-likely-to-continue-to-be-on-a-gradual-downward-path-for-rates-202511061240
