Bank of England boss signals interest rates may have peaked

Andrew Bailey says the Bank of England will assess the impact of tighter policy on the economy before sanctioning any fresh moves. Photograph: Maja Smiejkowska/Reuters

The Bank of England governor, Andrew Bailey, has signalled interest rates may have peaked after 10 successive increases in the official cost of borrowing since December 2021.

Speaking in London, Bailey said Threadneedle Street would assess the impact of tighter policy on the economy before sanctioning any fresh moves.