BoE's Cunliffe sees another rate cut if economy evolves as forecast
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
LONDON (Reuters) - Bank of England Deputy Governor Jon Cunliffe said on Wednesday he expects to vote for another interest rate cut this year if the economy evolves as the central bank expects.
"If the economy evolves as set out in the August forecast, I would expect to vote for another cut in Bank Rate this year as highlighted in the Minutes of the MPC's August meeting," Cunliffe said in a statement to lawmakers.
"If demand slows more significantly than expected, and the output gap is correspondingly larger, I would be willing to vote for further monetary stimulus."
The Bank of England said it expects the British economy to slow markedly in the second half of 2016 following the vote to leave the European Union, while avoiding recession.
(Reporting by Andy Bruce, editing by Kate Holton)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- In fear after attacks, gay Bangladeshis retreat into closet and flee abroad
- New Zealand PM Key announces surprise resignation
- Oil prices fall as production creeps up ahead of announced 2017 output cut
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!