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Bank Governor Reveals Two Things that Will Drive UK Interest Rate Cuts, and EU Shock at Trade Tariff

The pound fell to a three-week low on Monday, losing 0.17% against the dollar and twice that against the euro. Meanwhile, following the news that US President Donald Trump plans to implement a 30% tariff on EU imports, the euro grew more than 0.2% on the dollar. Bank of England Governor Andrew Bailey buoyed predictions of an August interest rate cut after telling The Times that he “believe[s] the path is downward”, though he admits the pace and …

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Zeit Online broke the news in Germany on Monday, July 14, 2025.
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