Bank of England boss signals interest rates may have peaked

But Governor Andrew Bailey says rates could rise again if inflationary pressures become embedded

• UK house prices fall at fastest annual rate since 2012
• How rising rates sent the UK housing market into reverse

The Bank of England governor, Andrew Bailey, has signalled interest rates may have peaked after 10 successive increases in the official cost of borrowing since December 2021.

Speaking in London, Bailey said Threadneedle Street would assess the impact of tighter policy on the economy before sanctioning any fresh moves.