Lates News

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