In her first interview since joining the monetary policy committee, Britain’s newest interest-rate setter warns that inflation is not the biggest threat to the economy – because ‘the slowdown is here’
As the newest policymaker at the Bank of England responsible for setting interest rates, Swati Dhingra can see a problem. Britain’s economy is heading for a lengthy and painful recession, while Brexit is making matters worse.
After a year of the central bank driving up borrowing costs – the equivalent of stamping hard on the economic brakes – to tackle rampant inflation, the London School of Economics academic worries that much tougher action could intensify the crash.
​In her first interview since joining the monetary policy committee, Britain’s newest interest-rate setter warns that inflation is not the biggest threat to the economy – because ‘the slowdown is here’As the newest policymaker at the Bank of England responsible for setting interest rates, Swati Dhingra can see a problem. Britain’s economy is heading for a lengthy and painful recession, while Brexit is making matters worse.After a year of the central bank driving up borrowing costs – the equivalent of stamping hard on the economic brakes – to tackle rampant inflation, the London School of Economics academic worries that much tougher action could intensify the crash. Continue reading…Â
