Might interest rates begin to fall soon? With inflation dropping below five per cent and the UK economy flirting with recession, it's the question everyone from the prime minister to first-time buyers is asking. But this morning, the Governor of the Bank of England poured cold sick all over the idea.
What Andrew Bailey actually told ChronicleLive following a visit to the North East was that rates would not be cut in "the foreseeable future" and that it was "too soon" to be having that discussion. Which is central bank talk for 'go away and come back when you're more productive'.
