Economist: The UK economy may have to wait until the next interest rate cut for a turnaround

Golden Ten Data reported on March 19 that ABERDEEN Deputy Chief Economist Luke Bartholomew said: It is surprising that all policymakers at the Bank of England voted to pause policy adjustments, indicating that even the more dovish members of the committee prefer to observe the development of this conflict before taking further action. Given the current labor market data showing that wage growth is gradually slowing, there is indeed ample reason to eventually lower interest rates. However, as the current inflation outlook appears more severe, the central bank will be committed to keeping inflation expectations stable. Therefore, although the barriers to raising interest rates again are very high, the economy may have to wait until the next rate cut to see a turnaround.