Bank of England rate-setter sees no repeat of extended inflation spike ahead

Bank of England rate setter calls for caution amid rising inflation

Megan Greene said it is unlikely inflation persistence will ‘fade on its own accord’, and said policymakers should be cautious with rate cuts. A Bank of England rate setter has called recent UK growth figures “uncomfortable”, and argued that policymakers should be cautious when cutting interest rates. Megan Greene, who sits on the Bank’s Monetary Policy Committee, said it is unlikely inflation persistence will “fade on its own accord”, following…

Bank of England rate-setter sees no repeat of extended inflation spike ahead

Catherine Mann tells an audience in Leeds that she backed a bumper rate cut last week because she expects the pick up in the pace of price rises to be temporary but says rates must stay higher for longer.

High time to reassess the Bank of England’s independence

The general consensus on how best to run the monetary side of an economy has been to have an autonomous central bank – an entity with sole responsibility for controlling inflation and using standard monetary policy tools.

Base rate cut to 4.5% - Alexander Accountancy

Base rate cut to 4.5% The Bank of England reduced their base rate to 4.5% last week, as had been widely expected in the days leading up to the decision. The ...

Bank of England needs to 'cut through the noise', rate-setter says

Catherine Mann, a rate-setter at the Bank of England, argued that monetary policy needs to “cut through the noise” as she explained her decision to back a bumper rate cut last week. Mann was previously the most hawkish member of the Monetary Policy Committee (MPC) and voted against the Bank’s two prior rate cuts, but she surprised markets by calling for a 50 basis point rate cut last week. In a speech delivered in Leeds, Mann explained her decis…

HMRC lowers late payment interest following Bank of England rate cut

HMRC has announced a reduction in the interest charged on overdue tax payments, following the Bank of England’s recent decision to cut the base rate from 4.75% to 4.5%. From 17th February, taxpayers with outstanding debts will see the interest rate on late payments drop from 7.25% to 7%. This will offer some relief to the estimated 1.1 million self-assessment taxpayers who missed the 31st Januarydeadline for filing their returns. However, the di…