Andrew Bailey, the Governor of the Central Bank of England: UK inflation cools faster than expected

According to the data from Jin10 on October 24th, Governor of the Central Bank of England, Bailey, said that the UK's process of anti-inflation is faster than expected, which may be the latest hint that the Central Bank will continue to cut interest rates next month. Bailey said that inflation is lower than expected a year ago, highlighting the 'good situation' where the second round effects may continue to increase price pressure. Bailey said, 'I think the speed of anti-inflation is faster than we expected, but we still have doubts about whether there have been some structural changes in the economy.' Despite the Central Bank of England implying cautious easing at the last meeting, Bailey recently hinted that if the good news regarding inflation continues, the Central Bank may be 'more aggressive' in interest rate cuts. His comments on Wednesday may further consolidate the bet on the Central Bank of England shifting to a faster interest rate cut cycle in the coming months. Traders currently expect the Central Bank of England to cut interest rates next month and believe that there is a 60% chance of another 25 basis point rate cut in December.