LONDON, April 4 (Reuters) - The Bank of England will
probably need to start cutting interest rates sooner than
previously thought after it raised them sharply since the end of
2021, monetary policymaker Silvana Tenreyro said on Tuesday.
"I expect that the high current level of Bank Rate will
require an earlier and faster reversal, to avoid a significant
inflation undershoot," Tenreyro said in the text of a speech she
was due to make at the Royal Economic Society's annual
conference in Glasgow.
Tenreyro cast one of two votes to leave borrowing costs on
hold in March while a majority of her colleagues on the Monetary
Policy Committee backed a 25 basis-point increase in Bank Rate
to 4.25%.
(Reporting by David Milliken
Writing by William Schomberg)
Reuters Messaging: william.schomberg.reuters.com@reuters.net))
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