The pound's value has fallen following comments from Bank of England Governor Andrew Bailey, who indicated that interest rate cuts could become “a bit more aggressive.” In a Guardian interview, he indicated that if inflation trends remain positive, the Bank might adopt a “more activist” approach to lowering borrowing costs.

The bank’s rate-setters could be “a bit more aggressive” on lowering borrowing costs if inflationary pressures continued to wane, Bailey told the Guardian newspaper. Sterling fell to $1.3121 from $1.3268, extending its decline from last week when the currency traded above $1.34.

Bank of England Governor Andrew Bailey said interest rates were unlikely to fall back to ultra-low levels in the UK without another bout of economic crises on the scale of the financial crisis and the pandemic.

The Bank of England could move more aggressively to cut interest rates if inflation pressures continue to weaken but conflict in the Middle East could push up oil prices, Governor Andrew Bailey said.

Andrew Bailey, the governor of the Bank of England, has suggested the central bank could do more to lower interest rates faster.

The British pound experienced a significant decline following comments from Andrew Bailey, the Governor of the Bank of England, indicating that the central bank could adopt a more aggressive approach in cutting interest rates if inflation continues to ease.

The Bank of England could take a 'more aggressive' approach to interest rate cuts if the economic conditions allow, Governor Andrew Bailey has said.