Central BanksMedium•5 November 2026•
1 min read
BoE's Bailey Says Falling Oil Prices Boost Economic Outlook
Key Facts
1BoE Governor Andrew Bailey stated that the latest fall in oil prices is positive news for the economic outlook.
2Bailey's comments followed the central bank's decision to raise the policy rate by 25 basis points to 4%.
Bank of England Governor Andrew Bailey stated that the latest fall in oil prices is positive news for the economic outlook. FXStreet reported that Bailey's comments followed the central bank's decision to raise the policy rate by 25 basis points to 4%.
The rate decision coincided with economic data released on November 5, 2026, showing the Construction PMI fell to 43.6, missing the forecast of 46.1. This follows earlier data from October 30, 2026, where the Decision Maker Panel survey showed year-ahead CPI expectations at 3.4%.
Governor Andrew Bailey is scheduled to deliver another speech on November 9, 2026, which may provide further insights into the central bank's policy trajectory.