Ben Broadbent Signals Potential UK Interest Rate Cut in the Near Future
Monday, 20 May 2024, 13:20
Bank of England Deputy Hints at UK Interest Rate Adjustment
Ben Broadbent, the outgoing deputy governor of the Bank of England, recently noted that the direct influence of the Covid pandemic and the Ukraine conflict on inflation has waned. As a result, the central bank is looking to determine the significance of more enduring impacts on the economy.
Inflation Decline May Lead to Interest Rate Cuts
Ben Broadbent suggested that a potential decrease in borrowing costs might occur in the summer months if economic conditions develop as anticipated. The move aims to address a notable decrease in inflation rates.
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