The Latest Breaking News from Andrew Bailey

Andrew Bailey fears markets are downplaying risks of persistent inflation, as new figures show UK borrowing so far this year is £16.9bn less than expected

Andrew Bailey warns more work to be done to bring inflation back to 2% target and further rate rises may still be necessary

Andrew Bailey lamented ‘the openness of the UK economy’ since Britain left the EU

Governor Andrew Bailey said it was “much too early” to think about cuts to interest rates

The Bank of England kept its main interest rate unchanged at the 15-year high of 5.25% and indicated that borrowing costs will likely remain at these sort of elevated levels for a while yet especially if oil and gas prices increase sharply in light of the conflict between Israel and…

With a weak economic outlook and shrinking inflation the Bank risks leaving rates too high for too long

With wages growth and job vacancies slowing, the monetary policy committee should hold interest rates again if it wants to avoid storing up trouble

Bailey also said wages are still rising too fast to meet the Bank’s 2% inflation target

Chancellor says high interest rates mean he has had to borrow up to £30bn more than planned