Bank of England Deputy Governor: Inflation pressures are easing, but caution is still needed

Bank of England Deputy Governor Clare Lombardelli stated that despite signs of easing inflationary pressures, caution is still needed while waiting for evidence of an economic slowdown. She pointed out that wage growth remains above target, and continuing to cut interest rates is prudent. Last week's rate cut decision sparked divisions within the committee, with five members supporting a 25 basis point cut, while two advocated for a 50 basis point cut. The committee maintains a gradual and cautious easing policy guidance