Bank of England must proceed with caution over future rate cuts, says deputy governor
by Heather Stewart Economics editor from on (#6VM26)
Dave Ramsden said gradual and careful approach needed to balance inflation risks and interest rate cuts
Bank of England policymakers must proceed cautiously - like mountaineers - as they cut interest rates in the months ahead as inflation risks rise, according to the central bank's deputy governor, Dave Ramsden.
In a speech at Stellenbosch University in South Africa, Ramsden - a climber himself - returned to the mountain analogy previously used by the Bank's chief economist, Huw Pill, to describe the path of interest rates.
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