Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Inflation Expected to Stabilise at 2% in 2024, Hints Bank of England Deputy Governor

by April 20, 2024
April 20, 2024
Inflation Expected to Stabilise at 2% in 2024, Hints Bank of England Deputy Governor

Sir Dave Ramsden, the Bank of England’s deputy governor overseeing markets, has indicated that inflation is expected to stabilise at 2% in 2024, potentially signalling the possibility of interest rate cuts.

His remarks diverge from the Bank’s previous forecasts, suggesting a potential revision in the inflation outlook set to be released next month. Ramsden’s comments come amidst signs of easing inflationary pressures, particularly driven by a slowdown in the labor market.

Ramsden expressed increased confidence in the evidence suggesting a reduction in domestic inflationary pressures, citing improved inflation dynamics. He highlighted a scenario where inflation remains close to the Bank’s 2% target throughout the forecast period. This optimism is supported by indicators such as a slowdown in wage growth and a decline in job vacancies to pre-pandemic levels.

Despite Ramsden’s optimism, the Bank’s monetary policy committee (MPC) maintained the base interest rate at 5.25%, with eight out of nine members voting in favor of stability. However, Ramsden’s remarks indicate a potential shift within the committee towards supporting rate cuts, marking a departure from the stance adopted since 2020.

Ramsden’s views on receding inflation may lead to divisions within the MPC, particularly between permanent and external members. While Ramsden suggests a favorable environment for rate cuts, some external members, including Megan Greene, remain cautious due to persistent wage pressures.

Andrew Bailey, the governor of the Bank of England, echoed Ramsden’s sentiment regarding falling inflation, noting that geopolitical tensions, particularly in the Middle East, have not significantly impacted oil prices as initially feared.

Market expectations for monetary loosening have moderated, with forecasts now projecting only one or two rate cuts this year, compared to earlier predictions of up to five cuts. This shift in expectations follows data indicating stubbornly high inflation in the United States, prompting reassessment of global monetary policy trajectories.

As discussions unfold at the International Monetary Fund’s spring meetings, officials have emphasized the need for the incoming UK government to address the country’s debt burden through spending cuts and tax adjustments.

Read more:
Inflation Expected to Stabilise at 2% in 2024, Hints Bank of England Deputy Governor

0
FacebookTwitterGoogle +Pinterest
previous post
UK Delays Health and Safety Checks on EU Imports Amid Post-Brexit Border Control Concerns
next post
Tories Mull Stamp Duty Cut Ahead of General Election in Autumn Statement

You may also like

Spending Review must prioritise employment reform and recruitment...

February 10, 2025

UK officials fear port chaos unless EU delays...

July 9, 2024

Union boss Lynch demands meeting with Rishi Sunak...

December 10, 2022

Automation in logistics will make a huge impact...

January 27, 2023

Scaramucci warns unrealised gains tax would devastate US...

September 7, 2024

UK commits to further talks with EU to...

January 17, 2023

Multitude of daggers from velvet sheaths are thrown...

October 10, 2022

Why More Homeowners Are Investing in Their Gardens...

June 24, 2025

Rachel Reeves Courts Business with Stability Pledge for...

June 21, 2024

SIS Hands Major Boost to UK & Irish...

November 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump wins over lifelong Democrat autoworker with ‘big, beautiful bill’ vehicle loan tax benefit

      June 27, 2025
    • EXCLUSIVE: Trump admin takes action after massive fraud uncovered at agency Dems tried to protect from DOGE

      June 26, 2025
    • FBI investigating Iran strike leaker, Leavitt says: ‘They should be held accountable’

      June 26, 2025
    • SMCI Stock Surges: How to Invest Wisely Now

      June 26, 2025
    • NEW! 5 Significant Additions to Our Professionally-Curated Market Summary Dashboard

      June 26, 2025
    • ‘Presidential incapacity’: Senate Republican seeks paper trail of Biden’s autopen use

      June 26, 2025

    Categories

    • Business (8,316)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved