BOE’s Bailey Says UK Inflation Cooling Faster Than Expected
- Central bank governor says pace of CPI was ‘good story’
- Remarks may boost bets on another rate cut on Nov. 7
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Bank of England Governor Andrew Bailey said disinflation in the UK is happening faster than officials had anticipated, the latest hint that the central bank will continue cutting interest rates next month.
Bailey said during an event on Wednesday in Washington that inflation was lower than he had expected a year ago, highlighting a “good story” on second-round effects that threatened to keep price pressures elevated. “Disinflation is happening I think faster than we expected it to, but we have still genuine question marks about whether there have been some structural changes in the economy,” Bailey said during the Institute of International Finance event.