Bank of England Governor Bailey: Holds "open attitude" towards interest rate decision for June meeting.

Andrew Bailey, the governor of the Bank of England, gave an interview in which he discussed the recent decision to cut interest rates by 25 basis points amid internal disagreements within the Bank. The voting results were more hawkish than expected. When asked if it was appropriate for the market to almost completely rule out a rate cut in June, Bailey said, "I think the only thing we can be certain of is that a lot will happen in the next six weeks or so in the world we are in." He emphasized that the Bank approaches each meeting with an open mind and that their philosophy is not about constant change but about a permanent openness. He stated that by the time of the June meeting, they will have more information on both international and domestic developments, including wage solutions that have been contributing to underlying inflation pressures.