Deputy governor Clare Lombardelli said there should be a "gradual" reduction in rates to cool price hikes after inflation rose to 2.3% last month - its sharpest increase for two years.
Interest rates are currently 4.75% after two cuts in recent months.
The Bank upped rates in the past two years after inflation soared to a peak of 11.1%, but has now started to unwind this after it came below its 2% target.
This story is from the November 26, 2024 edition of Daily Express.
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This story is from the November 26, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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