Bank of England policymaker Megan Greene said interest rate cuts in the UK “should still be a way off” because Britain has a higher risk of persistent inflation than the US and other countries. The remarks in the Financial Times signal that Greene is tilted toward the hawkish side of the UK central bank’s nine-member Monetary Policy Committee, which is considering when to lower interest rates from their highest in 16 years. “The risk of inflation persistence is diminishing as these indicators come down in line with the MPC’s forecast. But they remain higher than in other advanced economies, particularly the US,” ... (full story)