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DUBLIN, Nov 8 - Bank of England Governor Andrew Bailey pushed back on Wednesday against discussion of cutting interest rates, less than two days after the central bank's chief economist appeared to back market expectations of a first rate cut in August next year.
Bailey, speaking at a Central Bank of Ireland conference in Dublin, said he was"optimistic" that the BoE would return inflation to 2% by late 2025, as it forecast last week, and he reiterated that monetary policy would need to remain restrictive for an extended period. Bailey said there were still upside risks to interest rates, for example if events in the Middle East pushed up energy costs.
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