BoE's Bailey (annual report): "...with inflation returning to target, there should be scope for some further easing in monetary policy. This does not mean that I expect to cut Bank Rate at any particular meeting"

• "But it means that I will go into the coming meetings asking whether a cut is justified"

The comments from BoE's Bailey suggest a more dovish stance from the central bank, indicating that while inflation is returning to target, there's potential for monetary easing. However, he clarifies that no specific rate cuts are anticipated at upcoming meetings, implying a cautious approach. Traders should be mindful of how this rhetoric affects GBP and the overall interest rate outlook, particularly amid ongoing inflation concerns.