'Distinct signs of upturn' for recession-hit economy, Bank of England governor says
Tuesday, 20 February 2024 There are "distinct signs of an upturn" in the UK economy - despite the country tipping into recession late last year, the governor of the Bank of England has said.
The Bank of England’s former chief economist, Andy Haldane, has cautioned that unless the central bank promptly reduces interest rates to alleviate the financial strain on households amid the cost of living crisis, it risks exacerbating the UK’s recession.
Hopes for consecutive interest rate cuts by the Bank of England over the next two months have been dampened by the UK government's recent budget, economists have.. Sky News
Bank of England governor Andrew Bailey has said he is "optimistic" that inflation pressures would ease sufficiently for the central bank to cut rates further.
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Andrew Bailey says the decision to cut interest rates has “moved on” from how high rates will go to “how long we have to be here until we cut them”. The Bank of England governor says the MPC..
Tuesday, 20 February 2024
![Bailey optimistic Bank of England can cut rates further [Video]](https://video.newsserve.net/300/v/20240919/1387945522-Bailey-optimistic-Bank-of-England-can-cut-rates.jpg)
![Bank governor says issue on interest rates has ‘moved on’ [Video]](https://video.newsserve.net/300/v/20240201/1364572440-Bank-governor-says-issue-on-interest-rates-has.jpg)
