Bailey speech: Interest rates are not going back to where they were pre-financial crisis
|“Interest rates are not going back to where they were a pre-financial crisis,” Bank of England (BOE) Governor Andrew Bailey said on Friday.
Key quotes
We don't know what normal interest rates will be in future.
We don't think selling QE assets will have a big impact on market interest rates.
We are going to be dealing with impact of high inflation for some time.
Market reaction
GBP/USD is almost unfazed by the dovish remarks from BOE Governor Bailey. At the press time, cable is trading flat at 1.2160.
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