How can the Bank of England avoid being a loyal and trusted friend to Nigel Farage? That’s easy. It could say the cost of borrowing will tumble over the next year, step by certain step, until it settles at a level that is low enough to boost growth.
Each cut in interest rates from today’s 4.25% to 3%, or even better 2.5%, would be used by businesses to boost production, make crucial investments or pay down debts, making them more financially secure.
