General · 30 May 2026
UK interest rates won't rise quickly, says Bailey
Good news for borrowers: UK interest rates aren't going up anytime soon, giving some relief to families and businesses. The Bank of England's governor, Andrew Bailey announced that the 3.75% interest rate would remain unchanged until at least the close of summer, explaining his decision by pointing to the conflict in Iran. He added that inflation above the 2% target is fine for now, given the weak economy.
Reported by Guardian · How we write briefs