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BoE might cut interest rates this year, Broadbent says

Published 20/02/2024, 11:10
Updated 20/02/2024, 11:10
© Reuters. FILE PHOTO: Deputy Governor, Monetary Policy of the Bank of England Ben Broadbent attends a press conference concerning interest rates, at the Bank of England, in London, Britain, November 2, 2023. HENRY NICHOLLS/Pool via REUTERS/File Photo

LONDON (Reuters) - Bank of England Deputy Governor Ben Broadbent said interest rate cuts during 2024 were possible but the timing was dependent on an unclear outlook for inflation.

© Reuters. FILE PHOTO: Deputy Governor, Monetary Policy of the Bank of England Ben Broadbent attends a press conference concerning interest rates, at the Bank of England, in London, Britain, November 2, 2023. HENRY NICHOLLS/Pool via REUTERS/File Photo

The BoE's most recent forecast for inflation to fall "certainly doesn't rule out a policy easing at some point this year," Broadbent said in an annual report to parliament's Treasury Committee published on Tuesday.

"In my view that is the more likely direction in which Bank Rate is likely to move," he said. "But even if that proves to be the case, the timing of any adjustment can only depend on the actual evolution of the economic data."

 

 

Latest comments

They will rise rates, because of unexpected inflation data...
Just before an election…? But that would only be self serving , what Government would do that…?
You don’t say
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