Bank of England (BoE) Governor Andrew Bailey stated on Thursday at a press conference that the central bank will likely be cutting its interest rates "over the coming quarters."
As for the potential cut in June, he said that it is neither ruled out nor planned at this point in time. He reiterated that future decisions will depend on the incoming data, adding that it is possible that it might be necessary to cut rates "more than currently priced into market rates."
"We have no preconceptions about how far and fast we will cut rates," Bailey explained.
