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  • Bank of England could cut rates to offset deep recession, deputy governor hints

Bank of England could cut rates to offset deep recession, deputy governor hints

The Bank of England may have to cut interest rates if the UK economy slumps into a long, tough recession, a senior official at the monetary authority predicted.

by | 24 Nov, 2022

Sir Dave Ramsden, a deputy governor at the Bank, told the Bank of England Watchers’ conference today that if households and businesses are under greater financial pressure than expected, “then I would consider the case for reducing Bank Rate, as appropriate”.

The remarks add to a growing body of evidence indicating the monetary policy committee (MPC) is coming to the end of its aggressive rate hike cycle to tame inflation.

Read more at City A.M.

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