Bank of England (BOE) policymaker Michael Saunders said on Monday that he thinks that “the tightening cycle may still have some way to go.”
Rather than focus on precise forecast for bank rate next year.
Doesn't regard bank rate of 2% or higher next year as being unlikely, implausible.
Cost of not tightening promptly enough is relatively high.
GBP/USD extends the rebound on the hawkish commentary from Saunders, now trading at 1.1958, up 0.92% on the day.
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