UK interest rate cut is ‘possible’ this summer, says Bank of England deputy
by Phillip Inman and Graeme Wearden from Economics | The Guardian on (#6MY1Y)
Ben Broadbent says direct impact of Covid and Ukraine war on inflation has faded and BoE is waiting for longer-term effects to decline
UK interest rates could be cut this summer, the Bank of England's outgoing deputy governor said on Monday, adding to the expectation that a first reduction in borrowing costs could come as soon as next month.
Ben Broadbent, the Bank's deputy governor for monetary policy, said that if the economy evolves as expected, borrowing costs could possibly be lowered some time over the summer" in response to a steep fall in inflation.
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