Economist: Bank of England remains cautious amid potential inflation shock

Cointime2024/11/07 15:56

By: Cointime

Katharine Neiss, Chief European Economist at PGIM Fixed Income, said that the Bank of England needs to be further convinced that inflation is on a downward trend before it can take further interest rate cuts. The Bank of England's decision to cut interest rates by 25 basis points on Thursday did not surprise anyone, but Governor Bailey was cautious about the impact of geopolitical risks, especially on the US side. Neiss said that the UK now faces more potential inflationary pressures, "firstly, the UK budget, which is more expansionary and inflationary than expected. Secondly, the tariffs and prospects for a stronger dollar resulting from the US election results will affect the UK."

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Economist: Bank of England remains cautious amid potential inflation shock

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