Market News
Bank of England's Bailey says March rate cut is 'genuinely open question' - REUTERS
Summary
- Governor Bailey sees inflation falling to around 2% in April
- Bailey highlights higher-than-expected services inflation
- US tariff ruling not necessarily to UK's advantage
- Huw Pill says BoE must not be complacent when inflation hits 2>#/li###
LONDON, Feb 24 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday that an interest rate cut in March was a possibility, although services price inflation in recent data - which is closely watched by the central bank - had not fallen as much as hoped.
Bailey told lawmakers he would need further evidence to feel confident about cutting borrowing costs at the bank's policy announcement on March 19, having voted with a 5-4 majority on the Monetary Policy Committee to hold interest rates this month.
