Two members of Bank of England’s monetary policy committee are in favour of rate-cut – it seems just a matter of time before more join them
Business live – latest updatesHuw Pill, the Bank of England’s chief economist, said last year the path of interest rates was likely to mirror the shape of South Africa’s Table Mountain: steep-sided but with a plateau at the summit.
Judging by the Bank’s latest monetary policy report, Pill and the other eight members of Threadneedle Street’s Monetary Policy Committee (MPC) are now only a few short steps from starting their descent from the mountain top. But they are not quite there yet.
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