Bank of England Governor Andrew Bailey said in an interview with the Guardian published on Thursday that the bank could become a "bit more aggressive" and "a bit more activist" when it comes to cutting rates if incoming news on inflation continue to be good.
Bailey also warned that the rising tensions in the Middle East could result in a surge in oil prices. "Geopolitical concerns are very serious," Bailey said. "It's tragic what's going on. There are obviously stresses and the real issue then is how they might interact with some still quite stretched markets in places," Bailey stressed, but remained confident that, "there is, for the moment, a strong commitment to keep the market stable" among central bankers.
Still, he pointed out that "there's also recognition there's a point beyond which that control could break down if things got really bad."