Published by Alexander Bueso on 23rd April 2023
(Sharecast News) - Former Bank of England chief economist, Andy Haldane, believes that it is "pretty much nailed on" that inflation will halve over the next six months as energy price increases slow down. But in remarks to Sky News, Haldane cautioned that hikes in Bank Rate had yet to impact borrowing costs for many borrowers, especially those on fixed-rate mortgages. "The effects of the tightening so far haven't been fully felt. That would give me cause for pause. I'd think, hang on, the economy is still on unsteady legs right now. Much of the tightening that has already happened hasn't hit people's bank accounts. Perhaps now is the time to press the pause button and see what happens." - Guardian