3/23, 3:30 PM (Source: TeleTrader)
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BoE's Bailey: Terminal rate level still unknown

Bank of England Governor Andrew Bailey said on Thursday that the level at which the central bank will hold interest rates is not yet known.

Interest rates have been raised significantly, he told reporters, but pointed out that the central bank will continue making decisions to push inflation down and keep it low. The BoE is now much more hopeful that a recession will not take place in the United Kingdom, according to Bailey.

The central bank chief revealed that he believes that the 2008 crisis will not be repeated and that problems that the UK banking sector has been facing recently have been resolved.

Baha Breaking News (BBN) / MS