BoE's Bailey sees strong evidence that UK inflation is falling

FILE PHOTO: Governor of the Bank of England Andrew Bailey addresses the media during a press conference concerning interest rates, at the Bank of England, in London, Britain, November 2, 2023. HENRY NICHOLLS/Pool via REUTERS/File Photo

WASHINGTON (Reuters) – Bank of England Governor Andrew Bailey said on Tuesday there was strong evidence that British inflation was falling, but repeated his view that it was too soon to cut interest rates.

“In the UK we’re disinflating at what I call full employment. But I see, you know, strong evidence now that that process is working its way through,” Bailey said at an event organised by the International Monetary Fund which is holding its annual Spring Meetings in Washington.

(Reporting by David Milliken in London; Editing by William Schomberg)