According to Jin10 data, Bank of England Chief Economist Peel expressed concern that interest rates in the UK are falling too quickly. Earlier this month, he explained the request to maintain borrowing costs unchanged.
Peel stated on Tuesday that he does not advocate completely stopping rate cuts but calls for a more 'cautious' approach. He warned that the cooling of potential wage growth has 'slowed' and that inflation in the service sector is 'strong'.
Peel opposed further easing of policy at the May meeting, voting to keep interest rates unchanged. He believes that the pace of exit from monetary policy restrictions is too fast and advocates for 'skipping' the quarterly pattern of rate cuts to slow down the exit speed.