Bank of England deputy governor: support for rate cuts, but it's hard to know how fast they will happen

Bank of England Deputy Governor John Britton said on Thursday that recent evidence supports a gradual rate cut, but gauging the right pace of easing is tricky. In a speech at the University of Edinburgh, Briden said, “Recent evidence further supports the removal of policy constraints, and I expect the gradual removal of constraints to continue over time.” Briden is deputy governor for financial stability and is seen as a centrist on the MPC. She said it was “difficult to know” at this stage how fast interest rates should fall. Said Britten: “To be clear, I expect bank rates to fall over time as the effects of the huge shocks of the past continue to wane.”