The chief economist of the Bank of England, Pearson, doubts the pace of interest rate cuts in the quarter.

Andy Haldane, Chief Economist of the Bank of England, warned that the Bank of England may need to slow down its quarterly rate cuts, as rising inflation could change households' and businesses' behavior. Haldane opposed the Bank of England's decision to cut interest rates by 25 basis points on Thursday. He said that the duration of inflationary pressures may be longer than expected, pointing out the impact of rising food prices on household expectations. He said that the rising risks of inflation "may lead us to question whether the speed at which we have been lowering interest rates over the past year, i.e. 0.25 basis points per quarter, is sustainable."