LONDON, March 1 — Bank of England Governor Andrew Bailey said today that it was possible the central bank had already come to the end of its rate-rising cycle, although it was...
LONDON, March 1 — Bank of England Governor Andrew Bailey said today that it was possible the central bank had already come to the end of its rate-rising cycle, although it was too soon to be sure about the future path of policy.
"At this stage, I would caution against suggesting either that we are done with increasing Bank Rate, or that we will inevitably need to do more," Bailey said in the text of a speech at an event organised by public relations firm Brunswick Group, which was closed to media. Following Bailey's remarks, financial markets slightly trimmed bets on the likelihood of a quarter-point rate rise on March 23 after the BoE's next meeting, but still see rates rising to a peak of 4.75 per cent in the second half of this year."Inflation has been slightly weaker, and activity and wages slightly stronger, though I would emphasise 'slightly' in both cases," he said.
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