The Bank of England should move only gradually with cutting interest rates, Chief Economist Huw Pill said on Friday, a day after Governor Andrew Bailey was quoted as saying the BoE might move more aggressively to lower borrowing costs.

Andrew Bailey tells the Guardian the Bank could become a “bit more aggressive” in cutting interest rates if news on inflation continued to be good. Pound on track for worst day in 18 months 12:20 Today is turning into the pound’s worst day in over 18 months.

THE Bank of England could be “more aggressive” in cutting interest rates, Governor Andrew Bailey has said. He claimed that if inflation continues to be held in check then the Bank could “be more

The Bank of England could move more aggressively to cut interest rates if inflation pressures continue to weaken but conflict in the Middle East could push up oil prices, Governor Andrew Bailey said.

Both the unemployment rate and the average hourly earnings growth will probably remain unchanged at 4.2% and 3.8%, respectively. Up to now, data prints have been mixed, with the ISM manufacturing survey disappointing but both the weekly jobless claims and the ISM services survey raising the probability of an upside surprise today.