BOE May Be Too Slow in Cutting Rates, Says Ex-Deputy Governor

The Bank of England, which was accused of being behind the curve when inflation took off, is now in danger of being too slow to cut interest rates, according to a former deputy governor.

“There is a risk that by being burnt once by reacting too slowly, they are now going to be rather cautious in coming down,” Howard Davies, now the outgoing chair of NatWest Group Plc, said in an interview on BBC Radio 4’s Today program.