LONDON (Reuters) -Bank of England interest rate-setter Swati Dhingra said Britain’s high inflation rate is likely to ease off and the central bank should move more quickly to cut borrowing costs.

“The effects of the shocks driving the UK’s current high inflation relative to Europe will fade, and thus, we should not be overly cautious about cutting interest rates,” Dhingra wrote in a column published by The Times newspaper on Friday.

She was one of two members of the nine-strong Monetary Policy Committee who this month sought to cut the BoE’s benchmark Bank Rate by a quarter of a percentage point. The other seven decided to keep rates on hold at 4%.

“The difference in inflation between the UK and our continental neighbours can be largely explained by administered prices and global commod

See Full Page