UK rates set to stay low, says former MPC member Wadhwani
A ‘safety first’ approach to the UK's economic recovery is likely to mean the Bank of England (BoE) errs on the side of keeping policy loose for longer, according to Sushil Wadhwani, an investor and former external member of the BoE’s monetary policy committee (MPC).
The MPC last changed its key interest rate in March 2009, from 1% to 0.5%. Following the departures this summer from the committee of deputy governor Charlie Bean, former director for markets Paul Fisher, and former chief economist
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