Bank of England’s chief economist dampens hopes of summer interest rates cut

The Guardian— Huw Pill warns inflation could rebound as UK business survey signals economy strengthened over last monthThe prospects of a summer cut in UK interest rates have receded after the Bank of England’s chief economist said inflation must be squeezed out of the economy and cautioned against cutting too soon.After a key survey signalled strong sales across the private sector over the past month and the London stock market rose to a record high, Huw Pill said concerns remained that inflation, which is...

dailym.ai—Borrowers may have to wait until summer for a cut in interest rates as the Bank of England looks for signs the cost-of-living crisis has eased. Economists expect them to be kept at the current level of 5.25 per cent, which it has been held at since August last year. It means borrowers could have to wait longer before pressure starts to ease.

The Independent—Bank of England not yet ready to cut UK interest rates, experts say. Economists expect the rate to remain at 5.25 per cent

Raw Story—U.S. Fed to meet amid dwindling hopes of summer rate cuts. WASHINGTON — The U.S. Federal Reserve is highly likely to keep interest rates unchanged later this week, as policymakers contend with a recent uptick in inflation that has sharply cut the chance of a summer start to interest rate cuts. The Fed's decision to hike interest rates and then hold them at a 23-year high has helped to significantly lower elevated inflation, although it remains stuck firmly above the U.S. central bank's long-term target of two percent.