Bank of England Prepared to Cut Interest Rates
The Bank of England's Plan for Interest Rates
The governor of the Bank of England, Andrew Bailey, has stated that the bank is prepared to cut interest rates if the job market slows down. In an interview with The Times, Bailey shared his belief that the path for interest rates is downward. This statement comes as the UK job market faces uncertainty due to the ongoing COVID-19 pandemic. The bank's goal is to support the economy and ensure continued growth, which could be at risk if the job market weakens. Bailey's comments suggest that the bank is willing to take action to maintain stability in the face of economic challenges.
