UK shows signs of recovery from mild recession, says Bank of England

Bank's governor predicts Britain's economy will receive a boost when interest rates start to fall later this year

Britain is showing signs of recovery from its mild recession and will receive a boost when interest rates start coming down later this year, the Bank of England governor has said.

Andrew Bailey rejected accusations that Threadneedle Street's reluctance to cut borrowing costs despite falling inflation meant it was behind the curve" and made it clear rate cuts were coming.