Chancellor's economic council pushes back against further rate hikes - reports

Includes JPMAM's Karen Ward

Members of the UK Government’s Economic Advisory Council are worried the Bank of England could risk raising rates more than needed and trigger an unnecessary recession.

The seven-member council, which includes figures such as former BoE chief economist Andy Haldane and Karen Ward, has a majority that believes the central bank should hold back on its interest rate hikes, people familiar with the matter told Bloomberg. At least four of the seven-member council, which was revealed in October last year, privately support a slowdown in hikes, people familiar with the matter said. JPMAM's Ward joins government's new economic council This is apparently influencing top Treasury officials, who now believe that slowing inflation and other figures point ...