Bank of England boss Andrew Bailey faces new test of credibility on loan rates By Patrick Tooher Updated: 16:51 EST, 16 December 2023 e-mail 1 View comments Over cautious?: Andrew Bailey Bank of England governor Andrew Bailey faces another test of his credibility this week when new figures are expected to show inflation is being tamed. The inflation rate is expected to have dropped to 4 per cent in November. This is down from a peak of 11.1 per cent last autumn following Russia's invasion of Ukraine. The Bank last week decided to keep interest rates at a 15-year high of 5.25 per cent and warned that borrowing costs will remain…
