UK to Set out Plans to Rely Less on BoE for Growth – PM’s Adviser

Chancellor Philip Hammond will set out next month how Britain will try to rely less on ultra-low interest rates that have hurt savers, and focus more on other ways to boost growth, an adviser to Prime Minister Theresa May said.

In a speech on Wednesday, May said there had been bad side-effects from the Bank of England’s emergency measures to protect the economy since the financial crisis and the time had come for a new approach to spurring growth.

The head of her policy unit, George Freeman, said the government had to “listen to the roar that we heard this year”, when voters decided by a narrow majority that Britain should leave the European Union in what was seen as a protest over living standards.


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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.