Speculation about Bank of England rates grows

There’s been much speculation that the Bank of England will cut interest rates when it meets later this month.

But Laura Foll, fund manager of UK income funds at Janus Henderson Investors, is not in favour of a rate cut for now.

“If I was on the Bank of England… I would be waiting a little bit longer to see how the data develops.” she tells the Today programme.

While recent economic data has generally been weak, it has been covering periods before the election. However, she says, the softer data – which includes surveys of more recent activity – has indicated signs of a pick-up.

“I would wait and see how that data develops,” she says. “Why needlessly cut rates? We’re only talking about a quarter of a percentage point, so it’s not huge either way.”