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BOE Governor's Interest Rate Outlook
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Overview
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Bank of England Governor Andrew Bailey suggests interest-rate cuts are unlikely for the 'foreseeable future' as he warns about the 'hard work' required to get inflation down to 2%. He emphasizes the need for both policy and monetary policy to achieve the target, expressing a desire to avoid further economic damage.
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How might the BOE's focus on avoiding economic damage influence its future monetary policies?
How might the BOE's stance on interest rate cuts impact the UK economy?
What factors contribute to the 'hard work' required to get inflation down to 2%?
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