Bank of England rate setter Megan Greene said the UK’s latest wage growth and services price inflation data is too high for the central bank to consider cutting rates, a move she ruled out as “imminent”.
"I do not think it is imminent," she said during an Atlantic Council event in Washington on Thursday (18 April). "I just want to wait and see more progress in the direction that we are looking for before I feel confident in cutting rates. "The numbers that we are seeing in terms of wage growth and services inflation just are not consistent with a sustainable 2% inflation target." Bank of England's Andrew Bailey: UK is 'on track' to tame inflation - reports In remarks reported by Bloomberg, Greene, who is one of the more hawkish members of the Bank's Monetary Policy Committee, said ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
