LONDON, Aug 1 (Reuters) - Bank of England Governor Andrew Bailey said on Thursday he would caution against expectations that interest rates could be cut in successive meetings in a mirror image of the back-to-back rate hikes that took place from late 2021 to mid-2023.
"I would caution against that," Bailey told Sky News, adding that it was unlikely that rates would fall back to the near-zero levels seen in the years after the global financial crisis.
The BoE cut interest rates to 5.0% from a 16-year high of 5.25% on Thursday after a tight vote by its policymakers who were split over whether inflation pressures had eased sufficiently. (Reporting by Andy Bruce and Suban Abdulla; Editing by Sachin Ravikumar)
