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Bank of England’s chief economist urges caution over interest rate cuts – business live
Rolling coverage of the latest economic and financial news
- Sterling drops after Bank of England boss hints at ‘aggressive’ rate cuts
- Carmakers ramp up pressure on chancellor for EV sales subsidies
The pound jumped as traders reacted to Huw Pill’s call for a cautious approach to interest rate cuts.
It rallied as high as $1.3164, up from $1.312 last night,before settling back at $1.315
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Top stories - BBC News
Interest rate cuts could be more aggressive, Bank of England governor says
Governor Andrew Bailey hints that borrowing costs could come down faster if inflation stays in line.23 hours ago -
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The 30-year mortgage rate is averaging 6.12%, Freddie Mac said in its latest weekly survey on Thursday.19 hours ago - Mortgage
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