Hold interest rates at 4.5%, urges former Bank expert

A FORMER Bank of England rate-setter has suggested high inflation levels call for interest rates to be held at 4.5% in May.

- By Mauricio Alencar

The majority of investors and analysts expect the Bank to cut rates next month to ease low growth concerns, with up to three more cuts during the year.

But Jonathan Haskel, who was a member on the Bank’s Monetary Policy Committee until last August, said a “wait and see” approach should be favoured despite deflationary effects from Donald Trump’s tariffs.