ISTANBUL The Bank of England (BoE) Governor Andrew Bailey said Tuesday that the policy rate is on a downward trend, although policy currently remains restrictive. Bailey said the bank sees signs of a softening in the economy and there are similar signals in the labor market. "We are going to have to see those come through into the prices though," he said at a European Central Bank forum in Portugal. Bailey said the recent rise in inflation in the UK was mainly in items that the bank

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