Silvana Tenreyro became the second member of the monetary policy committee to back cutting rates in a no-deal Brexit Luke MacGregor/GettySplits are emerging among Bank of England ratesetters after a second member of the monetary policy committee said that they were likely to cut rates in a no-deal Brexit. Silvana Tenreyro, 45, one of four external members of the nine-strong committee, has joined Gertjan Vlieghe, 48, another external, in signalling that she would loosen policy. Their preferences contradict the Bank’s official stance that rates are as likely to rise as fall in a disorderly Brexit despite the economic shock predicted, although Mark Carney, 53, the governor, has begun to soften the line. Ms Tenreyro’s position means that at least two would vote for easier policy. Four others — Mr Carney, the deputy governor Sir Dave Ramsden, 55, and the two remaining externals, Michael Saunders and Jonathan…

Source: The Times March 07, 2019 12:00 UTC