Central bank’s governor warns consumers not to expect a return to near-zero rates
Business live – latest updates
The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall gradually but warned consumers not to expect a return to near-zero levels.
Bailey said he was “very encouraged” by the downwards path of inflation and “therefore I do think the path for interest rates will be downwards, gradually”. Last week, the Bank kept borrowing costs on hold at 5%.
About Author
More Stories
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
Hackers steal $1.5bn from crypto exchange in ‘biggest digital heist ever’