Bank Of England's Bailey Says Jobs Market Slowing but Inflation Outlook Uncertain

• Bank of England Governor Andrew Bailey said on Thursday that a recent pickup in inflation created more uncertainty about the medium-term picture for price growth, but he also noted signs of a slowdown in the jobs market in Britain.
• Bailey reiterated the central bank's guidance on borrowing costs, saying rates were not on a preset path but were likely to come down gradually. The central bank governor was among the majority of Monetary Policy Committee members who last week voted to keep borrowing costs on hold at 4.25%.
• Investors are betting on the BoE cutting rates in two further quarter-point moves to 3.75% by the end of 2025. Bailey said elevated global uncertainties continued to impact the UK economy, but the direct impact from trade policies on world output could be smaller than initially thought.

(Source: Reuters)