Bailey speech: Not in a place now where we can discuss cutting interest rates

“We are not in a place now where we can discuss cutting interest rates – that is not happening,” Bank of England (BoE) Governor Andrew Bailey said in an interview with Daily Focus on Wednesday.

Additional quotes

We are seeing some weakening of economic activity.

We’ve got to get on and bring inflation down to our target of 2%.

We will do what it takes to get to 2% inflation target.

We have not seen enough of the journey towards 2% inflation target yet to be confident.