Consumption growth could recover in the months ahead, Bank of England policy-maker Megan Greene said yesterday (September 25), and this demands a cautious approach to monetary easing.

The external member of the monetary policy committee identified three main drivers of consumption, which has only risen by 0.8% in real terms since the BoE began raising rates in December 2021.

First, she said consumers appeared to be saving more as a precautionary measure after several large shocks had hit the