The Bank of England's interest rate cut pace may change, Bailey said the uncertainty about the timing of future actions has increased.

Jin10 data reported on September 4, the Governor of the Bank of England, Bailey, stated on Wednesday that the bank is likely to continue lowering the key interest rate, but the uncertainty regarding the timing of future actions has increased. The Bank of England lowered the key interest rate by 25 basis points last month, marking the fifth rate cut in a year, maintaining a pace of one cut per quarter. However, four of the nine rate setters voted against the rate cut, citing a rebound in the latest inflation data. Bailey told lawmakers that while the key interest rate remains on a downward trajectory, policymakers may not maintain the previous pace of cuts. He stated, 'There is now greater uncertainty about exactly when and how quickly subsequent rate cuts can be implemented.' Bailey also mentioned that the plan for reducing the government bond portfolio, which will be announced by the Bank of England on September 18, will remain 'open-minded.' This suggests that the scale of bond holdings reduction over the next 12 months starting from October may be less than the current cycle's £100 billion (approximately $134.3 billion).