Barclays' CEO: The interest rate cuts by the Bank of England have not yet ended

Andrew Bailey, Governor of the Bank of England, stated that the Bank of England has not yet finished its interest rate cutting cycle, and pointed out that a cooling job market could bring risks. After the Monetary Policy Committee voted 7 to 2 to maintain the interest rate at 4% on Thursday, Bailey said that "risks remain on both sides," emphasizing rising inflation and a weakening labor market. "I still believe there will be further rate cuts, but I think the timing and magnitude of the rate cuts are more uncertain than before August," he said. "We also see the labor market continuing to soften, of course, this risk may further increase. This is a risk, not a core expectation." Investors are betting that the possibility of a 25 basis point rate cut by the end of this year is less than 30%, while next year is only fully digesting one rate cut.