BANK OF ENGLAND SET TO START ON PATH TOWARDS INTEREST RATE CUTS

The Bank of England is expected to take a tentative first step towards cutting interest rates from their highest level in nearly 16 years next week after signs that the inflation crisis is abating. Governor Andrew Bailey and other top officials spent much of late 2023 dismissing speculation about rate cuts as premature and warning about the risks from strong wage growth. But economists say the time is approaching for the BoE to relax its tough line on borrowing costs - something the U.S. Federal Reserve and the European Central Bank have already done - after recent data on headline inflation, wages and economic growth all came in weaker than the central bank had expected.

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