October 5, 2024

Bank of England chief economist urges caution over interest rate cuts

Claudio Ctin1 mins
Bank of England chief economist urges caution over interest rate cuts

Huw Pill’s comments come a day after governor Andrew Bailey raised prospect of ‘more aggressive’ cuts

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The Bank of England’s chief economist has warned against cutting interest rates “too far or too fast”, a day after the governor, Andrew Bailey, said the central bank could move “more aggressively” to lower borrowing costs.

Huw Pill said there should be a gradual reduction in interest rates to make sure inflation remains near the Bank’s 2% target.

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