BoE’s Vlieghe: Incoming data warrants removal of monetary stimulus
|The BoE MPC external member Gertjan Vlieghe, during a scheduled speech at the Birmingham Chamber of Commerce, said:
• Data has shifted further in direction that warrants removal of monetary stimulus since November
• Central outlook consistent with one-two 25bps hikes per year over forecast period
• Rates need to rise over forecast period if current balance of global economic tailwinds vs Brexit headwinds persists
• Significant uncertainty about rate path; lower & higher paths are possible depending on economy
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