Back to today’s briefing

Story perspectives

Bank of England's Dhingra Advocates Rate Cuts Amid Inflation

9/27/2025

32 2 Full Breakdown

Summary

Story summary

Swati Dhingra, a Bank of England rate-setter, argues UK inflation will fade and supports cutting rates.
She notes about 10 products drive much of the UK food-inflation gap vs. the eurozone currently.
The MPC left rates at 4%. Dhingra favors cuts, while Megan Greene urges caution ahead of November 6.

History

Historical Context

In 1975, the UK grappled with a severe inflation crisis, peaking at 26.9%, which led the government to adopt strict monetary policies. The Bank of England, under Governor Gordon Richardson, raised interest rates to combat inflation. Today, Swati Dhingra's call for rate cuts highlights ongoing inflation concerns, particularly in food prices, which could influence future monetary policy and economic stability in the UK.

1 of 2

Story summary

Swati Dhingra, a Bank of England rate-setter, argues UK inflation will fade and supports cutting rates.
She notes about 10 products drive much of the UK food-inflation gap vs. the eurozone currently.
The MPC left rates at 4%. Dhingra favors cuts, while Megan Greene urges caution ahead of November 6.

1 / 2