OPEC Getting Higher Oil Revenues Than Last Year

Haldane’s comments raised speculation that the Bank is coming close to reversing the emergency quarter-point cut in official borrowing costs made in August 2016 when the MPC was seeking to shore up confidence in the wake of the Brexit vote.

But Cunliffe said that raising interest rates at the current time was not desirable because it would add to the squeeze on living standards caused by prices rising more quickly than wages.

Haldane’s comments raised speculation that the Bank is coming close to reversing the emergency quarter-point cut in official borrowing costs made in August 2016 when the MPC was seeking to shore up confidence in the wake of the Brexit vote.

But Cunliffe said that raising interest rates at the current time was not desirable because it would add to the squeeze on living standards caused by prices rising more quickly than wages.

vai Reuters

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