Holding policy too tight for too long comes with costs to output and employment, which could then pull inflation below target, Breeden says.

Holding policy too tight for too long comes with costs to output and employment, which could then pull inflation below target, Breeden says.
The average interest rate paid on newly drawn mortgages decreased for the sixth consecutive month, to 4.26%.
The most significant percentage decline was seen in remortgage searches, which fell 12.7% compared with the weekly average.
Industry experts are now unsure whether another rate cut will come before the end of the year.
Industry experts are now divided on whether there will be a further cut to Bank Rate before the end of the year.
Gross lending activity in the UK mortgage market slowed in the last quarter - but new mortgage commitments hit their highest level in nearly two years, according to new data from the...
30-year gilt yields rose to 5.75% this week – the highest level since 1998.
Average mortgage rates have fallen for the fifth consecutive month.
Mann says she stands ready for "forceful policy action" in the future.
Only 9% suggested there would be no more cuts from the MPC by February 2026.
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