Bank of England: Interest rates on 'downward path'

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Governor of the Bank of England Andrew Bailey says interest rates have reached their peak and are now "on a gradual downward path" in the coming months.  Report by Keechl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00I do think there's a gradual downward path of interest rates that will continue.

00:03We've had some good news, actually.

00:05I think the latest inflation number was lower than we thought it would be.

00:08I think that does signal that this hump has, I hope, passed the peak now.

00:14But it's only one number, so I do need to see some more.

00:19And that's what I'll be looking very closely at, as well as the other economic data.

00:23But I do want your viewers to know I think the path is gradually downwards.

00:27That's what I will be looking at in terms of determining my vote.

00:32Because this was a very close vote in the sense that we've got two risks going on, one in each direction.

00:40I think they're now more balanced than when we were talking back in August.

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