Bank of England's Jonathan Haskel: Rate cuts are a 'long way off'

Voted to hold in March

Bank of England Monetary Policy Committee member Jonathan Haskel has said interest rate cuts are a “long way off”, as persistent and underlying inflation is the priority.

Speaking to the FT, the MPC member explained that he favours a slow start to cutting rates, and that the road to rate cuts will be a "long, slow process". He said: "Although the fall in headline inflation is very good news, it is not informative about what we really care about: what we really care about is the persistent and the underlying inflation. "I think cuts are a long way off." BoE rate setter Catherine Mann: Markets are pricing in 'too many' cuts The rate setter said he considers himself a "gradualist" rather than an "activist" when it comes to monetary policy, as inflat...