Speed of UK rate cuts ‘shrouded in uncertainty’ after tariffs, Bank boss says

The speed at which UK interest rates can be cut is ‘shrouded in a lot more uncertainty’ (Carlos Jasso/PA) - (PA Wire)

The speed at which UK interest rates can be cut is “shrouded in a lot more uncertainty” due to the “unpredictable” global economic situation and a US-China trade war, the governor of the Bank of England has said.

Andrew Bailey told MPs during a Treasury Committee session that the Bank had “genuine concerns” about escalating trade tensions.