BOE's Bailey Says UK Inflation Cooling Faster Than Expected.

Bank of England Governor Andrew Bailey stated that UK inflation is decreasing faster than expected, indicating a potential continuation of interest rate cuts next month. Bailey highlighted uncertainties regarding structural changes in the economy that may be influencing the pace of disinflation. While some policymakers are in favor of a gradual approach to easing policy, Bailey suggested a more aggressive stance on rate cuts if positive inflation trends persist. Additionally, Bailey emphasized the need to address the lack of investment in the UK economy by its pension industry, as well as the impact of low growth rates on monetary and fiscal policies. [Extracted from the article]