Bank of England (BoE) Governor Andrew Bailey speaks on the policy outlook and responds to questions from the press following the decision to lower the policy rate by 25 basis points (bps) at the February meeting.
Key quotes
“We expect to be able to cut bank rate further but we will have to judge meeting by meeting how far and how fast.”
“Road ahead will have bumps.”
“Behind uptick in headline inflation stands a continued, gradual easing of underlying inflationary pressures.”
“This is the backdrop to our withdrawal of restrictiveness, and to our decision today.”
“Coming rise in inflation almost entirely due to factors not directly linked to pressures in the UK economy.”
“We expect these factors to be temporary.”
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