of england andrew bailey dismissed any hopes of an interest rate cut in the near term. speaking at a conference hosted by the central bank of ireland in dublin earlier today, bailey said that it s too early to talk about a rate cut, given the continued risk of inflation. also today the international monetary fund warned that rapid wage growth in the eurozone will also keep inflation higher for longer. the imf urged the european central bank to hold interest rates at or near record highs through next year to keep a lid on price pressures. here s one economist we spoke to earlier. i think the imf is very much in tune with what the european central bank has been saying, which is that although the headline inflation rate has come down a lot, the labour market is still strong, wage growth has been quite strong. and it s going to be a very difficult and slow process to squeeze out that last bit of inflation from the system. so, i mean, we re thinking interest rates are likely to
Moody s said it expected contracted sales to fall by about 5% over the next six to 12 months in China, and the impact of government measures to boost property purchases was likely to be short-lived and uneven.