'Considerably more doubt' over future interest rate cuts, Bank of England governor warns

There is "considerably much doubt" implicit erstwhile aboriginal involvement complaint cuts tin instrumentality place, the politician of the Bank of England has said.

Andrew Bailey told a committee of MPs that the hazard of ostentation had gone up and helium was "more concerned" astir weakness successful the labour market.

Bank unit projections expect the main measurement of ostentation to emergence to 4% this twelvemonth - treble the 2% people complaint - from its existent level of 3.8%.

On the prospects for further involvement complaint reductions this twelvemonth helium said: "There is present considerably much uncertainty astir erstwhile and precisely however rapidly we tin marque those further steps. That's the connection I wanted to get across."

Money latest: Wetherspoons stops accepting immoderate banknotes successful England

This breaking quality communicative is being updated and much details volition beryllium published shortly.

Please refresh the leafage for the fullest version.

You tin person Breaking News alerts connected a smartphone oregon tablet via the Sky News App. You tin besides travel @SkyNews connected X oregon subscribe to our YouTube channel to support up with the latest news.