After the shambolic local election results, the Tories’ remaining best hope of shifting the goalposts is interest rate cuts. Rishi Sunak and Jeremy Hunt have no direct control over interest rates. Tomorrow, when the MPC sits down for its session, governor Andrew Bailey can show leadership. This gives the Bank the choice to lead the way down from higher borrowing costs. He is just one vote on a nine-member committee where the hawks need to be brought down from the summit.

Source: Daily Mail May 07, 2024 01:42 UTC