Andrew Bailey stated that he was “still of the view that the path, gradually and carefully, is downwards” but that he would not “give predictions as to when and how much.”
Thursday’s rate decrease is the fourth in a year, and the Bank contemplated a larger fall to 4% because of worries that the global trade war may hinder UK economic development.
A UK trade agreement with the European Union would be “beneficial,” Mr. Bailey said, adding that the tariff agreement between the US and the UK was “important as a signal, I hope, of many more to come.”
