Bank of England Keeps Interest Rates Steady

LONDON (Reuters) – Bank of England Governor Andrew Bailey stated on Thursday that the central bank must be cautious about cutting interest rates due to the gradual decline in inflation pressures.

> “We have to be quite careful at this point in how we calibrate our response because we’re still seeing a very gradual fall in inflation. We need to accumulate the evidence,” Bailey told broadcasters.

> “We really do have to wait to see that evidence unfold.”

Earlier on Thursday, the BoE maintained its key rate at 4.5% and cautioned against expectations that borrowing costs would decrease in the upcoming meetings, as uncertainties persist regarding the British and global economies.