The Bank of England should deliver its fourth interest rate cut since August on Thursday but should not tell markets to expect a rapid loosening of policy this year, The Times shadow monetary policy committee has said.
The Times Shadow MPC voted 6-3 in favour of lowering the UK’s base rate by a quarter of a percentage point, taking it down to 4.25 per cent from 4.5 per cent. A reduction in borrowing costs is widely expected by investors, who think that the vote split on the Bank of England’s rate setting panel will be more heavily in favour of a quarter-point cut.
Expectations for a procession of rate reductions over the coming year have gathered momentum owing to President Trump’s erratic tariff policymaking. Morgan
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