According to the CBI, the time is ripe for a rate cut. This is what the CBI chief economic adviser Ian McCafferty has to say about the matter: “This is the right time for a further quarter point cut in interest rates. Although there are inflationary pressures in the short term, there are clear signs that the economy is beginning to slow. “A modest cut now would help ensure a soft economic landing, without undermining the bank’s credibility on inflation." The Monetary Policy Committee will announce its decision tomorrow. Picture source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.