BoE should ‘stop squeezing living standards’ and cut rates, says policymaker

The Bank of England’s Swati Dhingra has been a consistent advocate of cutting interest rates Photograph: Alicia Canter/The Guardian

The Bank of England needs to “stop squeezing living standards” and cut interest rates, a senior policymaker has said.

Swati Dhingra, a member of the central bank’s monetary policy committee (MPC), said official borrowing costs should be cut at its next meeting on 1 August to ease pressure on households and businesses.