The extent to which
Paul Dales of Capital Economics stated: “I have been quite surprised at how marked the rises in
Last week, the Bank of England’s monetary policy committee announced a 25 quarter-point cut in the base rate to five per cent, resulting in widespread criticism that the reduction was not large enough.
However, Mr Dales remarked that the Bank is trying to do a balancing act with inflation and therefore just a small cut is necessary.
Commenting on many banks and
Mr Dales said that he did not think banks were holding back simply to maximise profits.
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