The next interest rate rise decision is on 3 November, days after the government lays out its economic plans.
By Matt MurphyThe governor of the Bank of England has warned interest rates may need to rise by more than previously expected.
Mr Hunt, who was appointed on Friday after his predecessor Kwasi Kwarteng was abruptly sacked, has confirmed the government will set out its tax and spending plans on 31 October.Mr Bailey said the Bank will not take any action on interest rates until after this fiscal plan is announced, describing this as "the correct sequence" of action.
He also spoke of the need "to have the Office for Budget Responsibility involved" in the government's budget discussions, adding that "flying blind is not a way to achieve sustainability". The governor's intervention comes just hours after Mr Hunt told the BBC that some taxes could rise in the coming months and some departments could see their budgets slashed.
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