Bank of England Deputy Governor Broadbent suggests possible summer interest rate cut based on evolving economic data.
Bank of England Deputy Governor Ben Broadbent suggests UK interest rates may be cut this summer, if economic data continues to evolve as officials expect. Broadbent expects inflation to fall towards the 2% target, with borrowing costs needing to be cut to ease their impact on economic activity. The Bank of England's openness to rate cuts depends on the evolving data, but it remains possible that a rate cut could come this summer.
May 20, 2024
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