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9th Aug 2022 14:37U.K., Daily Monitor

Dave Ramsden is the first MPC member to admit rates might need to be cut "quite quickly" in the medium term.

The cuts currently priced-in by markets from late H2 2023 aren't big enough to lower households' interest bill.

But CPI inflation won't be near the target until Q4 2023; pre-election fiscal stimulus will limit the scope for easing.

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core goods cpi cpi inflation energy fiscal policy fiscal stimulus food cpi inflation futures prices headline rate interest rate interest rates January labour loans mortgage mortgages mpc mpc members natural gas Ofgem output gap policy q3 q4 rate cuts reuters September wage growth

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Keywords for: 10 Aug 2022 UK Monitor

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