BOE’s Ramsden Will Consider More Rate Cuts If Uncertainty Clears

Bloomberg11-21 01:24

(Bloomberg) -- Bank of England Deputy Governor Dave Ramsden said he would consider voting for quicker interest rate cuts if uncertainty around the UK economy clears in coming months.On a day when ...

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Since then, the BOE has loosened policy just once more earlier this month and traders expect little more than 50 basis points of easing over the next 12 months. He said that the MPC’s published forecasts for growth to pick up and inflation to rise above target for the next two years are “plausible.” But he added it’s also “at least as likely that the disinflationary process sustains its recent trend, consistent with more symmetry in wages and price setting, with less domestic inflationary pressure.”Ramsden also predicted that wage growth is more likely to be closer to 2% than 4%, saying this would a “key determinant” for services inflation — which the BOE is monitoring closely.©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485125518"}