The Bank of England’s Monetary Policy Committee is expected to cut interest rates at its next meeting in November after its first cut in more than four years in August and a pause in September
Bank of England Chief Economist Huw Pill said the British central bank should move only gradually with cutting interest rates, a day after Governor Andrew Bailey was quoted as saying the BoE might move more aggressively to lower borrowing costs.
Bailey told the Guardian newspaper in an interview published on Thursday that the central bank could move more aggressively to cut interest rates if there was further welcome news on inflation. He said he remained concerned about the possibility of structural changes in Britain’s economy that could sustain inflation pressures and there was “ample reason” for caution in assessing how quickly that persistence would lift.
Pill Inflation Speech Boe Bailey England Cut Andrew Bailey MPC Monetary Policy Committee
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