Original source (on modern site) | Article images: [1]
We haven't been able to take payment You must update your payment details via My Account or by clicking update payment details to keep your subscription. Act now to keep your subscription We've tried to contact you several times as we haven't been able to take payment. You must update your payment details via My Account or by clicking update payment details to keep your subscription. Your subscription is due to terminate We've tried to contact you several times as we haven't been able to take payment. You must update your payment details via My Account, otherwise your subscription will terminate. Monday May 6 2024 The Bank of England's chief economist has insisted that interest rate cuts still remain a "way off" in a sign of a split emerging among the central bank's policymakers over when borrowing costs could come down. Huw Pill said that a lack of data since March demonstrating that inflation had fallen substantially meant he saw "no reason to depart from the baseline" of keeping borrowing costs restrictive for some time. Pill said that the "passage of time" had brought cuts to the UK base rate "somewhat closer", but added that policy needs to remain restrictive to eradicate underlying inflationary pressures from the economy. A sharp fall in global energy prices had driven inflation lower over the past year. However, the "tentative decline in the persistent
![[1]](image.php?loc=UK&i=https://www.thetimes.co.uk/imageserver/image/%2Fmethode%2Ftimes%2Fprod%2Fweb%2Fbin%2F43cf3384-03f4-4535-9b43-5031b75e176f.jpg?crop=5000%2C2813%2C0%2C314&resize=1200){kind=link}