Bank of England’s Tenreyro says patience needed to lower inflation
2023.04.15 05:42
© Reuters. FILE PHOTO: A person walks outside the Bank of England in the City of London financial district in London, Britain, March 23, 2023. REUTERS/Henry Nicholls
(Reuters) – Bank of England policymaker Silvana Tenreyro said on Friday past interest rate rises would take time to bear down on inflation, and that it was important not to over-adjust policy while the impact of these past rate rises was feeding through.
“We need to be patient,” she said at a panel discussion hosted by the International Monetary Fund in Washington. “We don’t want to get burned. We don’t want to get an ice-cold shower.”
Tenreyro voted against a further BoE rate rise last month, arguing that past tightening was more than enough and could push inflation well below target in the medium term.
