Bank of England Deputy Governor: Support rate cuts, but it's hard to know how fast

Bank of England Deputy Governor Bretton said on Thursday that recent evidence supports gradual rate cuts, but gauging the appropriate pace of easing is tricky. "Recent evidence further supports the removal of policy restrictions, and I expect that these will continue to be gradually removed over time," Bretton said in a speech at the University of Edinburgh. Bretton, deputy governor for financial stability and seen as a centrist on the Monetary Policy Committee, said at this stage it was "difficult to know" how quickly interest rates should fall. "To be clear, I expect bank rate to fall over time as the impact of the big shocks of the past continue to wane," Bretton said.