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The Guardian - UK

Business

Heather Stewart Economics editor

UK interest rates more uncertain due to Trump policies, says Bank governor

Andrew Bailey United Kingdom Interest Rates Bank of England MPC Catherine Mann Donald Trump Swati Dhingra United States

Andrew Bailey, the Bank of England governor. — Bank of England governor Andrew Bailey said the path of interest rates ‘remains downwards’. Photograph: Clodagh Kilcoyne/Reuters

The Bank of England governor, Andrew Bailey, has told MPs that the future path of interest rates in the UK has become more uncertain because of Donald Trump’s chaotic trade policy.

Asked about the impact of on-off tariffs for the Bank’s policymaking by the cross-party Treasury select committee, Bailey said “the path remains downwards, but how far and how quickly is now shrouded in a lot more uncertainty, frankly”.

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