BoE's Forbes: Cost of reversing a rate hike is concern for some MPC members
|Bank of England policymaker Kristin Forbes is crossing the wires, via Reuters, saying that the cost of reversing a rate hike is a concern for some MPC members.
Key quotes (via Reuters):
- MPC spends a lot of time debating how changes in interest rates would affect Sterling
- Political developments currently dwarfing monetary policy's effect on Sterling
- Consumer spending will be key for some members of MPC
- U.S. experience shows household savings rates can fall significantly to support consumer spending
- Media discussion of Brexit uncertainty not affecting businesses or consumers
- Brexit uncertainty might affect consumers or businesses more in future
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