Ex-Bank of England deputy governor Charlie Bean says cut of 0.5 points needed because of ‘crazy situation’ in US
The Bank of England should use its meeting next month to cut interest rates by at least half a percentage point to 4% in response to the financial turmoil created by Donald Trump’s trade tariffs, the former deputy governor Charlie Bean has said.
He believes an aggressive strategy is needed to combat the fallout from Trump’s tariff war, which has knocked trillions of pounds off global stock markets, undermining business and consumer confidence.