Bank of England policymakers speak after rates held at 5.25 per cent

The Bank of England took another step towards lowering interest rates on Thursday, as a second official backed a cut and Governor Andrew Bailey said he was “optimistic that things are moving in the right direction”.

Below are comments from a news conference with BoE policymakers:

BAILEY ON CUTTING BANK RATE BEYOND MARKET EXPECTATIONS

“It’s likely that we will need to cut bank rates over the coming quarters and make monetary policy somewhat less restrictive over the forecast period...