LONDON, Nov 20 (Reuters) - Bank of England Governor Andrew Bailey said on Monday that it was "far too early to be thinking about rate cuts" and borrowing costs might have to go up again if there were signs that inflation was proving more persistent than expected.
"When inflation is high, we take no chances," Bailey said in the text of a speech he was due to deliver to an event organised by the National Farmers' Union, echoing his recent comments that discussion of lowering interest rates was premature.
The BoE kept rates on hold for the second meeting in a row this month after 14 consecutive increases in a row to fight an inflation rate that peaked at above 11% in October 2022 before falling to 4.6% in October this year. (Reporting by William Schomberg and Muvija M)
