{"id":527693,"date":"2026-07-01T14:13:09","date_gmt":"2026-07-01T14:13:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/527693\/"},"modified":"2026-07-01T14:13:09","modified_gmt":"2026-07-01T14:13:09","slug":"boes-bailey-rate-cuts-off-the-table-at-the-moment","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/527693\/","title":{"rendered":"BoE’s Bailey: Rate cuts off the table at the moment"},"content":{"rendered":"

While speaking at a policy panel at the European Central Bank’s (ECB) Forum on Central Banking, Bank of Governor (BoE) Andrew Bailey acknowledged that they have a softening economy and labour market.<\/p>\n

Key takeaways<\/p>\n

“Decision not to raise rates was based on softening economy.”<\/p>\n

“Rate cuts off the table at the moment.”<\/p>\n

“We’ll return to it in July.”<\/p>\n

“We have a delayed reaction mechanism to energy prices.”<\/p>\n

Market reaction<\/p>\n

GBP\/USD<\/a> extends its daily slide following these comments and was last seen trading at 1.3220, losing 0.3% on the day.<\/p>\n

Bailey holds fire on cuts as soft data clouds the Pound outlook<\/p>\n

FXS Speechtracker shows a 6\/10 score versus Governor Bailey\u2019s historic 4.7\/10, signalling a modestly more impactful appearance. The emphasis on a softening economy and labour market, alongside the decision not to raise rates<\/a>, leans mildly dovish on growth but stops short of a clear easing bias.<\/p>\n

By stating that rate cuts are \u201coff the table at the moment\u201d and will be revisited in July, Bailey injects a hawkish twist that tempers expectations for near-term easing. The reference to a delayed reaction mechanism to energy prices underscores caution on inflation dynamics, reinforcing a wait-and-see stance that keeps the Pound caught between softer domestic data and a central bank unwilling to pre-commit to cuts.<\/p>\n","protected":false},"excerpt":{"rendered":"While speaking at a policy panel at the European Central Bank’s (ECB) Forum on Central Banking, Bank of…\n","protected":false},"author":2,"featured_media":527694,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-527693","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/527693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=527693"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/527693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/527694"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=527693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=527693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=527693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}