• last year
The Bank of England has held interest rates at 5.25% for the third time in a row and indicated that cuts are unlikely in the coming months. Governor Andrew Bailey stressed there is "still more to do" in policymakers' efforts to get inflation down.

Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Transcript
00:00 Well, our job is to achieve the 2% inflation target sustainably. Now, we're making good
00:07 progress. Inflation has come down from 11% to where it is today, just over 4.5%, and
00:12 it will come down further. But we have to achieve it sustainably. So there is more to
00:17 do. So I'm encouraged by where we are, but we have got more to do to get to that target,
00:22 and that's what we will do.

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