Swati Dhingra, an external member of the Bank of England's Monetary Policy Committee, is in a unique position as the only major central bank policymaker to publicly call for an interest rate cut in at least two years. If the BOE does decide to ease before either the Federal Reserve or the European Central Bank, it will be in no small part down to her trailblazing. She should stick to her guns until it does.

Dhingra has been the lone BOE dove since Silvana Tenreyro stepped down from the MPC in July. Tenreyro and Dhingra had voted against further rate hikes from December 2022; Dhingra’s caution is proving increasingly prescient after the UK economy slipped into recession in the second half of 2023, with per capita gross domestic product failing to grow for the longest period on record.

QOSHE - The One Policymaker Who’s Making Sense Right Now - Marcus Ashworth
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The One Policymaker Who’s Making Sense Right Now

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21.02.2024

Swati Dhingra, an external member of the Bank of England's Monetary Policy Committee, is in a unique position as the only major central bank policymaker to publicly call for an interest rate cut in........

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