US EditionBank of England Is Cutting Rates Too Quickly, Warns Its Chief Economist
- The Bank of England's Chief Economist, Huw Pill, warned that interest rates are being cut too rapidly, raising concerns about inflation control.
- Pill voted against a recent rate cut to 4.25%, advocating for more cautious reductions due to persistent inflation risks.
- Governor Andrew Bailey acknowledged that inflationary pressures have continued to ease, which has allowed for recent rate cuts.
- The Bank has reduced rates from a peak of 5.25%, and has predicted further cuts down to 3.5% next year.
11 Articles
11 Articles
UK interest rate cuts have been ‘too rapid’, Bank’s chief economist warns
Huw Pill said the pace of interest rate reductions since August last year has been ‘too rapid’ given the balance of risks to UK inflation. The Bank of England has been cutting interest rates too quickly, its chief economist has warned. Huw Pill said the pace of interest rate reductions since August last year has been “too rapid” given the balance of risks to UK inflation. Speaking at an event held at Barclays in London, he said progress of “disi…
Pace of interest rate cuts ‘too rapid’: BoE Pill – Mortgage Finance Gazette
The pace of the Bank of England’s base rate cuts has been “too rapid” given the pressures on inflation, said the central bank’s chief economist. “My starting point is that the pace of Bank Rate reduction should be ‘cautious’, running slower than the 25 basis… The post Pace of interest rate cuts ‘too rapid’: BoE Pill appeared first on Mortgage Finance Gazette.
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