The Bank of England should move only gradually with cutting interest rates, Chief Economist Huw Pill said on Friday, a day after Governor Andrew Bailey was quoted as saying the BoE might move more aggressively to lower borrowing costs.

The Bank of England’s Monetary Policy Committee is expected to cut interest rates at its next meeting in November after its first cut in more than four years in August and a pause in September

Bank of England Governor Andrew Bailey says the rate should come down in coming months, but "it's vital that inflation stays low".