The Bank of England could move a "bit more aggressively" on interest rate cuts, Governor Andrew Bailey said in an interview with The Guardian newspaper, published online on Thursday, causing a steep fall in the pound to a near three-week low.
The BoE had reduced its benchmark rate by a quarter-point in August, which was the first reduction since March 2020. In a tight 5-4 vote, the bank had cut the rate to 5.00 from a 16-year high level.
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by Renju Jaya
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