The Bank of England is being urged to end its bias towards further rate hikes or risk undermining its credibility, in what is likely to be a tough communication challenge for the central banker. Andrew Bailey.
Former members of the central bank’s Monetary Policy Committee and other senior UK economists said the Bank of England’s current hawkish stance was not in line with the economic outlook of its counterparts in the US and the eurozone. They said the new guidance should come with the next interest rate decision on February 1. The longer the Bank of England waits, the greater the risk of a clash with a prime minister holding a general election. Rishi Sunak He is expected to call later in the year.