Bank of England hints at rate cuts amid economic stability

Summary: Bank of England's Governor Andrew Bailey hints at rate cuts following signs of a quelled wage-price spiral. The Monetary Policy Committee voted 8-1 to keep interest rates at 5.25%, with predictions of a cut by June and at least three quarter-point cuts by year-end. Financial markets anticipate a 23% chance of a cut in May. Bailey confirms all upcoming MPC meetings are open to policy changes. Market rally follows global interest rate cut hopes.

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