Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- The speed of interest rate cuts by the Bank of England (BoE) has become a point of contention among its policymakers, according to Monetary Policy Committee member Swati Dhingra. Although all members agreed to describe the process as "gradual", their interpretations of what this term means in practice vary.
Dhingra clarified in a speech at Birkbeck, a part of the University of London, that the media’s interpretation of ’gradual’ as a 25 basis point cut per quarter was not in line with the committee’s official statement. "I know ’gradual’ has been interpreted in the media as 25 basis points per quarter. That’s not actually what the committee has said," she stated.
Furthermore, Dhingra expressed that her personal interpretation of ’gradual’ did not align with this media narrative. "I think everybody has a different definition. That’s not my definition, clearly," she added. The divergent views within the BoE’s Monetary Policy Committee suggest a lack of consensus on the pace of future interest rate reductions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.