BoE's Lombardelli favours slower rate cuts
Tweet
Share
E-mail
Bank of England Deputy Governor for Monetary Policy, Clare Lombardelli, attends the Monetary Policy Report press conference, in London, Britain, November 6, 2025. REUTERS/Maja Smiejkowska/Pool
LONDON, Dec 9 (Reuters) - Bank of England Deputy Governor Clare Lombardelli said she was worried about upside risks for British inflation and the central bank should move more slowly to lower borrowing costs as it approaches the end of its interest rate-cutting cycle.
"I am very worried that we are seeing more pressure on resources in the economy, and that obviously leads to price rises. I think you can see it in the labour market," she told lawmakers on the Treasury Select Committee on Tuesday.
"I am also perhaps less convinced than others (on the Monetary Policy Committee) about how restrictive monetary policy is at the moment, as in how far we are from reaching the end of the cutting cycle."
Lombardelli said that as the BoE approaches the end of its run of rate cuts "and you don't know where it is, you might slow down a bit to try and anticipate and find your way a bit more."
The BoE held its benchmark Bank Rate at 4% in November, a tight decision backed by five of the MPC's nine members.
(Reporting by David MillikenWriting by Suban AbdullaEditing by William Schomberg)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- US conducts strikes on Iran missile systems around Strait of Hormuz, Axios reports
- South Korea asks North Korea for help with finding missing seaman near border
- Israeli attacks in Gaza kill six people, including a girl, medics say
Create E-mail Alert Related Categories
ReutersSign 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!
