Interest rate cuts loom. They won't shift the economy or politics
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We haven't been able to take payment You must update your payment details via My Account or by clicking update payment details to keep your subscription. Act now to keep your subscription We've tried to contact you several times as we haven't been able to take payment. You must update your payment details via My Account or by clicking update payment details to keep your subscription. Your subscription is due to terminate We've tried to contact you several times as we haven't been able to take payment. You must update your payment details via My Account, otherwise your subscription will terminate. Saturday May 18 2024 It is, as Sherlock Holmes might have said, a three-pipe problem, and it is preoccupying the Bank of England: when and by how much can it cut interest rates, while guarding against a return of the high inflation rate that has been its main problem over the past two to three years? There is a lot of interest, certainly in financial markets, about what the Bank will say this Thursday when it announces its latest decision, alongside a new monetary policy report and forecast. It will be a big shock if, after deliberating, it decides that now is the moment for a cut. I think rates were raised a bit too much but I would not bring them down this week, and the majority