BoE's Bailey: There is still some further journey down in rates

What is the BOE thinking? Bailey is considering cutting the bank rate—with more cuts likely coming—while inflation remains at nearly double their target and could rise further! Under Andrew Bailey, the pound has drifted aimlessly. Perhaps Baroness Shafik, as the government's economic advisor, might inject some sense into Bailey about these misguided rate decisions. At least she is a proper economist and not a historian. When it comes to protecting the purchasing power of the pound sterling, Bailey is hopeless. Given that he is paid nearly £600K pa, the country expects better.