FTSE 100 unimpressed as Bailey walks back on further rate cuts

Following the previous update, noting the widely expected UK interest rate cut, the Pound has advanced a bit further and certainly well above where it was ahead of the decision. The reason for that was all due to the Bank warning about expecting further aggressive interest rate cuts. Well, we might need to see more detail on that in the upcoming press conference (12.30pm GMT), but the immediate reaction in the Pound has not been greeted with the same across the UK stock markets. I warned here earlier today; that the FTSE 100 may requite more of the same, when it comes to policy easing and the comments from Bailey just now have rather poured cold water on that prospect. Hence, the FTSE 100 is now lower and did dip below the 8,150 level. It is not much above there now, as waits to see what further comments Bailey has to add shortly