Andrew Bailey, governor of the Bank of England (BOE), at the press conference of the monetary policy at the bank's headquarters in the city of London, in the United Kingdom, on Thursday, November 2, 2023. The Bank of England left its rate of reference loan in a higher 15 years. Photographer: Hollie Adams / Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
The Bank of England focuses on the potential British growth of American growth in American prices in the event of a slowdown in world trade, the governor of the central bank Andrew Bailey said on Thursday.
“We are certainly quite focused on the growth shock,” Bailey told Sara Eisen from CNBC in an interview during the Spring meetings of the IMF-World Bank.
Bailey added that he had not seen the United Kingdom as close to a recession at present.
The IMF Earlier this week has been demoted Its growth forecasts of 2025 for the United Kingdom at 1.1% against 1.6%, invoking the impact of trade rates from US President Donald Trump, higher borrowing costs and an increase in energy prices.
However, economic forecasts remain embellished in uncertainty while countries engage in negotiations with Trump officials Universal price policy swingingcurrently on break. The United States has imposed 25% prices on steel, aluminum and cars and a 10% levy from other British exports.
British decision-makers expressed hope of achieving a commercial agreement with the White House, the American vice-president JD Vance said There is a “good luck” of an agreement.
The Bank of England held interest rates at 4.5% During his March meeting, before Trump shocked the world with the scale of his pricing announcement.
The markets now see the reduction rates of the BOE at 4% by its August meeting when it is struggling with a lower growth prospect, as well as a Inflation slowdown.
This is a news and will be updated shortly.
