Bank of England Deputy Governor Broadbent: There is reason to expect interest rate cuts in the next two meetings.

Bank of England Monetary Policy Committee member Broadbent said, "there is reason to expect" a further 25 basis point rate cut before the end of April. The deputy governor in charge of financial stability made the remarks at a "Business Live" event in Manchester, stating that the current policy should release the monetary policy brake and provide more support for the economy by lowering borrowing costs. She expressed concerns about the risks of slow growth and rising unemployment. "I am not convinced that economic activity will pick up as expected. Therefore, I think it is appropriate to moderately release the monetary brake and provide more support for the economy," she said. "If the economy continues to develop as we expect, and no shocks occur - clearly, these are two big 'ifs'... I believe there is reason to expect a rate cut at the next one or two meetings."