Bank of England rate setter Swati Dhingra has called for immediate interest rate cuts and warned that the central bank may be “underplaying the downside risks” for the UK economy.
In an interview with the FT, the external member of the Bank's Monetary Policy Committee said she did not predict a resurgence in inflation given weak consumer spending. "I am not fully convinced there is some kind of really sharp excess demand in the economy coming from the consumption side," she said. "I am more concerned that we might be underplaying the downside risks." BoE's Huw Pill: Interest rate cuts possible as 'reward' for lower inflation According to Dhingra, there are fewer "buffers" supporting households currently, as pandemic-era savings drop and job vacancies declin...
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