Interest rate cut possible if economy demands, says Bank policymaker

Commuters on London Bridge. Photograph: Tolga Akmen/EPA

Interest rates may need to start falling again if cost of living pressures abate more quickly than the Bank of England expects, a senior policymaker at Threadneedle Street has said.

Dave Ramsden, one of the Bank’s deputy governors, said he was currently supporting fresh increases in the cost of borrowing but raised the possibility that a weakening economy may require a cut.