BOE Rate Cut in March a ‘Genuinely Open Question,’ Says Governor Bailey

Tuesday, February 24, 2026 at 4:16 PM

#Bank Of England #Inflation #Interest Rates

Bank of England Governor Andrew Bailey stated that a March interest rate cut is a "genuinely open question," indicating that policymakers are still evaluating the economic data.

While headline inflation is expected to fall sharply to the 2% target by April, services price inflation remains a concern, coming in at 4.4% against the BoE's forecast of 4.1%. Bailey noted that while food prices fell more than anticipated, services prices did not decrease as much as hoped.

The central bank's Chief Economist, Huw Pill, also expressed caution, emphasizing the need to avoid being misled by headline inflation figures and highlighting underlying price pressures. The decision on March 19 will depend on further evidence regarding inflation trends.

BOE Rate Cut in March a ‘Genuinely Open Question,’ Says Governor Bailey

Read More On

Related Articles

U.K. Inflation Slowed in January

Fed officials signaled little appetite for reducing interest rates at January’s meeting, with most indicating they wanted to see further progress on inflation before considering more cuts

Fed’s Miran Says Four Cuts Are Appropriate This Year

RBNZ Leaves Interest Rates on Hold, Expects Inflation to Soften

BOE Rate Cut in March a ‘Genuinely Open Question,’ Says Governor Bailey

Read More On

Related Articles

U.K. Inflation Slowed in January

Fed officials signaled little appetite for reducing interest rates at January’s meeting, with most indicating they wanted to see further progress on inflation before considering more cuts

Fed’s Miran Says Four Cuts Are Appropriate This Year

RBNZ Leaves Interest Rates on Hold, Expects Inflation to Soften