Bank split over interest rates

 
Tim Wallace
Follow Tim
INTEREST rates should stay low for the forseeable future, the Bank of England’s deputy governor Sir Jon Cunliffe said last night.

Taking on members of the mon­etary policy committee who backed a hike, Cunliffe said: “With the scope for tightening monetary policy subs­tantial, but the scope for loosening it much more limited, the risk of a surprising pick-up in in­fla­tionary pressure may be more manageable than the risk of the ex­pansion stalling and inflation falling further.”