Clare Lombardelli said she is not going to "put a date" on when she expects the UK to start loosening monetary policy, but that she expects "that will be the direction of travel for certainly for European economies.” She was testifying to the House of Commons Treasury Committee on Tuesday. Lombardelli is the chief economist at the Organisation for Economic Co-operation and Development (OECD) and she is due to join the Bank of England on July 1 as deputy governor for monetary policy.
Read more: https://www.bloomberg.com/news/articles/2024-04-16/boe-s-lombardelli-says-rate-cuts-are-the-direction-of-travel
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