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 could be “more aggressive” in cutting interest rates, Governor Andrew Bailey has said. He claimed that if inflation continues to be held in check then the Bank could “be more

The British pound experienced a significant decline following comments from Andrew Bailey, the Governor of the Bank of England, indicating that the central bank could adopt a more aggressive approach in cutting interest rates if inflation continues to ease.

The Bank of England could move more aggressively to cut interest rates if inflation pressures continue to weaken but conflict in the Middle East could push up oil prices, Governor Andrew Bailey said.