UK interest rate cuts ‘in play’, says Bank of England governor

Comments come after MPC spoke of ‘encouraging signs’ of falling inflation that could lead to cuts

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The governor of the Bank of England has said interest rate cuts will be “in play” at forthcoming policy meetings amid progress in sharply reducing the UK’s headline rate of inflation over the past year.

In a signal that Threadneedle Street is preparing the ground for a cut in borrowing costs within months, Andrew Bailey told the Financial Times: “All our meetings are in play. We take a fresh decision every time.”