Bank of England Governor Andrew Bailey said interest rates were unlikely to fall back to ultra-low levels in the UK without another bout of economic crises on the scale of the financial crisis and the pandemic.

Andrew Bailey said it was unlikely interest rates would return to near zero as markets debate how far and how fast the Bank with cut.

Bank of England governor Andrew Bailey does not expect to see a return to ultra-low interest rates -- but forecasts they will fall “gradually” from now on. Bailey has given an interview, published today,

“I'm very encouraged that the path of inflation is downwards therefore I do think the path for interest rates will be downwards, gradually,” Bank of England (BoE) Governor Andrew Bailey said on Tuesday. Bailey added: “My best guess will be interest rates settle at a 'neutral rate'.”

Bank of England Governor Andrew Bailey said on Thursday he was "optimistic" that inflation pressures would ease sufficiently for the central bank to cut rates further, but declined to be drawn on timing.

The Bank of England is likely to continue to cut its key interest rate, but is not in a rush to do so, Governor Andrew Bailey said in an interview published Tuesday.