BoE should ‘stop squeezing living standards’ and cut rates, says policymaker

Swati Dhingra says Bank of England's monetary policy committee should lower interest rates in August

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The Bank of England needs to stop squeezing living standards" and cut interest rates, a senior policymaker has said.

Swati Dhingra, a member of the central bank's monetary policy committee (MPC), said official borrowing costs should be cut at its next meeting on 1 August to ease pressure on households and businesses.