Wait and see before hiking interest rates, Bank of England rate-setter says

Thu, 14 Oct 2021 15:58:37 GMT 5

Wait and see before hiking interest rates, Bank of England rate-setter says


Silvana Tenreyro says look how much certain commodities’ prices rise before pushing up borrowing costs

An early hike in interest rates would be “self defeating” if inflationary pressures turn out to be temporary, according to a member of the Bank of England’s monetary policy committee.

Silvana Tenreyro, one of the central bank’s nine rate-setters, said policymakers should wait and see how much the price of oil, gas and semiconductors continued to increase before they began pushing up borrowing costs from 0.1%.

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Source link for full text: https://www.theguardian.com/business/2021/oct/14/wait-and-see-before-hiking-interest-rates-bank-of-england-rate-setter-says


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