Interest Rates

Central bankers Makhlouf and Bailey warn against chances of interest rate drop any time soon

Gabriel Makhlouf and Andrew Bailey both said it was too early to expect an end to a historic period of monetary tightening

Gabriel Makhlouf and Andrew Bailey said it was too early for policymakers to being cutting interest rates. Picture: Patrick Browne

The bosses of the English and Irish central banks have said it is “far too early” to start thinking about cutting interest rates, amid market speculation that falling inflation might be a signal that a historic cycle of monetary tightening could be coming to an end.

Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), and Andrew Bailey, who leads the Bank of England, both said it was too soon to expect regulators ...