BoE Deputy Governor Dave Ramsden, during a scheduled speech on Thursday, was noted saying that he is a little more pessimistic about the GDP growth that the latest BoE forecasts.
• Expect growth to pick up if Brexit goes smoothly.
• That will make further monetary tightening appropriate.
• Does not expect investment will recover as much as BoE forecasts.
• Sees more downside risks to UK productivity.
• Interest rates would need to go up or down after no-deal Brexit.
• Would want to wait and see before changing policy after no-deal Brexit.
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