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…
