Market News
BoE's Bailey sticks with 'careful' rate cut view as uncertainty deepens - REUTERS
By David Milliken and Suban Abdulla
Summary
- BoE's Bailey says greater uncertainty requires gradual approach
- Breeden says Trump tariffs not key for her May vote to cut rates
- Dhingra says supply chain points to medium-term inflation fall
- Bailey says Mann right to consider QT in view of changed markets
LONDON, June 3 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday he was sticking with a "gradual and careful" approach to cutting interest rates as global trade policy turmoil increasingly clouds the outlook.
The BoE cut interest rates last month to 4.25% in a three-way split vote. It cited "heightened unpredictability" with markets buffeted by U.S. President Donald Trump's rapidly shifting trade policy.
"I think the path (for interest rates) remains downwards, but how far and how quickly is now shrouded in a lot more uncertainty," Bailey told parliament's Treasury Committee.
