Bank of England Governor Bailey said there is room for further interest rate cuts, consumers are cautious.

Andrew Bailey, Governor of the Bank of England, has raised the prospect of further interest rate cuts and warned that cautious Britons are reducing their dining out and shopping. He said, "There is still room for interest rates to go down. However, the specific timing and extent of the cuts will depend on the trajectory of inflation", "Currently, there are signs of weakness in the labor market, and employment data also reflects this slightly".