Bank of England's Megan Greene rules out 'imminent' rate cuts - reports

UK in 'trade-off territory'

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 ...