Bank of England policymaker issues interest rates warning after 'uncomfortable' news
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manchestereveningnews.co.ukABank of England policymaker has called for a cautious approach to interest rate cuts following"uncomfortable" growth figures.
Megan Greene, who is part of the central bank's Monetary Policy Committee (MPC), believes that inflation persistence won't simply "fade on its own accord", following higher-than-expected forecasts for 2025 price rises last week.
Addressing the Institute of Directors, she concurred with Governor Andrew Bailey that while inflation reduction is generally on track, a "cautious and gradual" method should be applied to rate cuts.
Last week, the Bank elected to decrease the base interest rate by 0.25 percentage points, reaching the lowest mark in over a year and a half.
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