Bank of England Governor Andrew Bailey warns a 60-day ceasefire in the US-Israeli conflict with Iran won't trigger rate cuts, as markets now price in a hike to 4%.

Bailey has said the soft labour market might allow the Bank of England to avoid interest rate hikes if wages do not rise.

Bank of England Governor Andrew Bailey warns a 60-day ceasefire in the US-Israeli conflict with Iran won't trigger rate cuts, as markets now price in a hike to 4%.