Bank of England May Need to Cut Rates Sooner Due to Economic Drag, Says Senior Policymaker
Senior policymaker and Monetary Policy Committee member Silvana Tenreyro has suggested that the Bank of England may need to cut interest rates earlier and more rapidly to counter the economic slowdown and lower inflation caused by previous rate increases. Tenreyro noted that global energy prices have fallen sharply, leading to indications that inflation could drop …