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Bank split over interest rates
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.”