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BoE’s Ramsden: I could consider case for cutting interest rates
A senior Bank of England policymaker has suggested that he could consider voting to cut UK interest rates, if growth and inflation are weaker than expected.
Sir Dave Ramsden, BoE deputy governor, says that while he expects that interest rates will need to rise higher, there are “considerable uncertainties” about the economic outlook.
Giving a speech at the Bank of England Watchers’ Conference in London, Ramsden pledges to take a ‘watchful and responsive’ approach to setting borrowing costs.
Given the uncertainties we face it is important also to be humble about what we don’t know or still have to learn. I favour a watchful and responsive approach to setting policy.
Although my bias is towards further tightening, if the economy develops differently to my expectation and…
