Bank of England prepared to cut rates if job market slows, says governor

JULY 14 - The Bank of England is prepared to make larger interest rate cuts if the job market shows signs of slowing down, its governor has said. In an Kenya breaking news | Kenya news today |..

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The Bank of England is ready to implement larger interest rate cuts if the job market shows signs of slowing down, according to Governor Andrew Bailey.

Current interest rates are at 4.25% and will be reviewed on 7 August.
Andrew Bailey indicates a likely downward trend in rates, citing business adjustments in employment and pay.
Job vacancies in the UK have dropped to 736,000, the lowest since 2021, while the availability of workers has surged, according to a survey.

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