BoE's Bailey says cutting rates would be 'very, very premature'

Bank of England Governor Andrew Bailey said on Thursday that cutting interest rates would be "very, very premature" and that rate-setters had not discussed doing so.

Bailey, speaking to reporters after the BoE left interest rates on hold at 5.25%, said he would not predict what the central bank's next move would be.

"I can tell you that we have not had any discussion on the Monetary Policy Committee about reducing rates because that would be very, very premature," Bailey said.