BOE's Hogg: would be concerned if impact of GBP depreciation led inflation doesn’t fade over next 2-years
|More comments flowing in from the newly appointed BOE MPC member Hogg, as she continues with her first speech in Parliament.
Important headlines:
• Not seeing evidence of bubble in Gilt prices
• Doesn’t believe QE has created problem of overvaluation in the Gilt market
• QE unwinding to probably be slow
• No major distinction between unwinding QE & letting it run off as Gilts mature
• UK equilibrium unemployment rate lower than 5%, but unsure of exact level
• Would have concerns if impact of sterling depreciation on inflation doesn’t decline over next 2-years
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