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Bank of England must cut rates amid economic ‘doom loop,’ unions say (morningstaronline.co.uk)

submitted 4 weeks ago by rss@news.abolish.capital to c/pravda_news@news.abolish.capital

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THE Bank of England must “go further and faster” with rate cuts to help boost living standards, unions said today in light of marginal GDP growth.

Ministers were also challenged on underinvestment as new official figures showed household incomes still being squeezed by a “relentless cost-of-living crisis.”

The Office for National Statistics showed that gross domestic product (GDP) rose by 0.1 per cent in the fourth quarter — the same as in the previous three months.

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[–] FuckyWucky@hexbear.net 1 points 4 weeks ago

Yea, cut rates to near zero. But that alone won't be enough, Government spending is needed. Destroy the imprudent fiscal rules.