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UK facing unprecedented hit to national income from inflation – Bank deputy

Bank of England deputy governor Ben Broadbent has warned Britain is likely to be facing the worst ever external hit to national income from inflation as the Ukraine war compounds the cost-of- living crisis. In a speech in London, Mr Broadbent – who ...

30 Mar 2022 at 13:25

UK recession ‘weak’ and rates may be cut before inflation hits 2% – Bailey

Bank of England Governor Andrew Bailey has said that the UK’s recession is “very weak”, but signalled that inflation does not need to reach 2% before the Bank starts cutting interest rates. Mr Bailey said that compared to recessions dating back to ...

20 Feb 2024 at 11:46

Bank of England names top global economist Clare Lombardelli as deputy governor

The Bank of England has appointed top global economist Clare Lombardelli as its deputy governor for monetary policy. Ms Lombardelli is currently the chief economist for the Organisation for Economic Co-operation and Development (OECD) and was ...

29 Feb 2024 at 11:16

Bank of England needs to see ‘clearer decline’ in wage growth before rate cuts

The Bank of England needs to see clearer evidence that wage growth in the UK is slowing before it can think about cutting interest rates, a policymaker has suggested. Ben Broadbent, a member of the Bank’s nine-member Monetary Policy ...

18 Dec 2023 at 12:19

Summer interest rate cut ‘possible’, says Bank of England deputy governor

UK interest rates could be cut by the Bank of England as soon as this summer, according to its deputy governor. Ben Broadbent, deputy governor of the central bank, said in a speech on Monday morning that it is “possible” borrowing ...

20 May 2024 at 18:10

Brexit hit to UK economy coming through faster than expected – Bank of England

The hit to the UK economy from Brexit is coming through faster than had previously been expected, the Bank of England deputy governor has said. Ben Broadbent said it was still not clear whether the effects of EU withdrawal were a ...

02 Feb 2023 at 15:17

Deputy Bank of England chief hints rates may not rise as much as markets expect

The Bank of England’s deputy governor of monetary policy has questioned whether “dramatic” hikes in interest rates are necessary amid signs global prices are stabilising. It remains to be seen whether base rates will rise to the ...

20 Oct 2022 at 13:34

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