Business · 30 May 2026

UK interest rates won't rise quickly, says Bailey

Diliff via Wikimedia Commons (CC BY-SA 4.0)

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.

By BriefTea Editorial · 30 May 2026 at 9:13

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