Andrew Bailey forecasts four BoE rate cuts in 2025 – reports

Market pricing in a slower cut pace

The governor or the Bank of England Andrew Bailey has said he expects the central bank to make four rate cuts in 2025.

In an interview at the FT Global Banking summit today (4 December), Bailey stood by the comments made at the Monetary Policy Committee's latest meeting in November that inflation was on track to stay on the Bank's 2% target and therefore four quarter point cuts remained the central forecast. ONS reports progress on labour force data collection but warns of more instability in estimates ahead The BoE cut rates to 4.75% in November, following an uptick in inflation the previous month to 2.3%. This was significantly down from the peak inflation rate of 11.1% hit in late 2022. Today...