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MPC to call for rate cut if economy worsens

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  • 05/09/2002
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The Monetary Policy Committee (MPC) will cut interest rates if the economy worsens. According to the...

The Monetary Policy Committee (MPC) will cut interest rates if the economy worsens. According to the minutes of the last meeting, the deputy governor of the Bank of England did not call for a rate increase for the first time in three months.

The committee was actively discussing cutting the rate, although it was unanimous in its opinion to leave the rates as they are for now, due to a stock market rally and increased Government spending. The minutes gave three arguments for a possible cut: the low inflation rate, the risk there will be deflation internationally and the delicate state of the global economic recovery.


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