BOE’s Dhingra Backed Half-Point Cut to Make Statement on Economy

Bank of England rate-setter Swati Dhingra said she wanted to make a “statement” about the direction of the UK economy by breaking with other policymakers and voting for a half-point interest-rate cut at this month’s meeting.

Dhingra said she wanted to bring down UK rates from sustained high levels and that markets only take notice of votes for large moves when used sparingly.