Bank of England Governor Andrew Bailey hinted that policymakers still see four 25-basis-point interest rate cuts as the most likely scenario next year. He also noted that the speed of inflation decline is "faster than we expected." In an interview on Monday, Bailey admitted that the market path in the Bank of England's November forecast was based on the assumption of four rate cuts. Traders increased their bets on further rate cuts after Bailey's remarks. "We always adjust our published forecasts based on market rates, so, as you said, it is actually the market's view," Bailey said. When asked if four rate cuts align with the Bank of England's core forecasting scenario, Bailey replied, "Yes."