UK shows signs of recovery from mild recession, says Bank of England

The governor of the Bank of England, Andrew Bailey, says he wants more evidence inflationary pressures are easing. Photograph: Reuters

Britain is showing signs of recovery from its mild recession and will receive a boost when interest rates start coming down later this year, the Bank of England governor has said.

Andrew Bailey rejected accusations that Threadneedle Street’s reluctance to cut borrowing costs despite falling inflation meant it was “behind the curve” and made it clear rate cuts were coming.