BoE's newest rate-setter Breeden warns further tightening cannot be ruled out

Important for policy to remain 'restrictive'

clock • 2 min read

More interest rate hikes from the Bank of England have not been ruled out, according to the newly appointed Monetary Policy Committee member and deputy governor for financial stability, with future decisions dependent on wage and employment data.

In her first speech in the new role, Sarah Breeden said while the UK economy was "moving in the right direction" to return inflation to the 2% target, the BoE's job "is not done".  With price rises slowing in the UK, as well as across the eurozone and in the US, financial markets have been pricing in cuts to interest rates in 2024. But Breeden, who voted to hold rates at 5.25% at the December MPC meeting, said she was still deciding if they should rise from this level. UK consumer confidence hits three-month high but remains negative "The question I am focused on is whether ther...

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