A Bank of England Monetary Policy Committee member has said that “further tightening is a bigger risk” than not raising interest rates enough, and that key aspects of inflation may be overestimated.
In a speech for think tank the Resolution Foundation, Swati Dhingra - one of the nine economists who set UK interest rates - said she believed the Bank should keep interest rates at 4%, arguing that the effects of recent rate hikes have not been fully passed through the economy yet.
