Bank of England Chief Economist Signals Possible Rate Cuts Coming in 2024
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Bank of England Chief Economist Huw Pill said rate cuts may come in mid-2024.
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Current market pricing pointing to first cut in August 2024 seems reasonable to Pill.
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Pill said 9 months allows time for reassessment if economic conditions stay the same.
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BoE held rates at 15-year high of 5.25% last week, focused on lowering inflation.
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Pill said slowing economy to fight inflation is challenging, aware of impact on lower incomes.