Experts warn that raising UK interest rates further could damage an already weakened economy
Any increase “risks unnecessarily denting output at a time when the economy is weak and deepening the pain for households when budgets are already squeezed”: Swati Dhingra, Bank of England Monetary Policy Committee Raising UK interest rates further could damage an already weakened economy, aAny increase “risks unnecessarily denting output at a time when the economy is weak and deepening the pain for households when budgets are already squeezed,” Swati Dhingra, a member of the Bank’sThe Bank...
Dr Dhingra, regarded as a dovish member of the MPC, joined the Bank’s interest rate-setting committee in August last year., who has repeatedly warned of the dangers of complacency about inflation. “If there is uncertainty about the degree of inflation persistence, it is better to assume a high degree, because the costs of making a mistake if the true inflation process is more persistent are larger than if the true inflation process is less persistent,” Dr Mann said.
“The bank could choose in an open and transparent way, subject to Treasury agreement, to take longer than the conventional one to two years to get it”: AndyHaldane, former Bank of England chief economist
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