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QUOTES-Bank of England policymakers speak after rate cut

ReutersMay 8, 2025 11:38 AM

- The Bank of England cut its main interest rate by 0.25 percentage points to 4.25% on Thursday, despite an unexpected three-way split among policymakers as U.S. President Donald Trump's tariffs weigh on global economic growth.

Here's what Bank of England officials said in a press conference following that decision:

ANDREW BAILEY, BANK OF ENGLAND GOVERNOR

On global economy:

"As the past few weeks demonstrate, the global economic environment remains an uncertain one. Interest rates are not on auto-pilot. They cannot be. Instead, the MPC (Monetary Policy Committee) must continue to respond carefully to the evolving economic circumstances and the outlook for inflation in the UK.

Whatever happens, the MPC will continue to set bank rate to ensure that inflation returns sustainably to the 2% target in the medium term."

On disinflation:

"My first key message is that disinflation in domestic price and wage pressures is continuing. While headline inflation is expected to rise in the near term, we do not expect that to persist."

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