More from Carney & Co.: path at Nov. report was 2 hikes, now almost 3

Headlines continue to pour in from the BOE's inflation report hearings before Parliament's Treasury Committee:

BOE Governor Mark Carney:

   •  Further stimulus withdrawal needed in coming years
   •  Case for withdrawal of stimulus will be there if GDP exceeds 1.5%
   •  Path at Nov. report was 2 hikes, now almost 3
   •  Interest rates will not return to long-run average of 5%
   •  Monetary policy is nimble and will react to changing economic expectations linked to Brexit
   •  The need for a direct pre-commitment to raise interest rates has gone away

BOE Chief Economist Andy Haldane:

   •  Reasons for more hawkish view now is stronger world economy and somewhat in UK too
   •  Last year has seen stronger than expected momentum
   •  Balance of risks to the path of interest rates necessary to return inflation sustainably to target to the upside, based on potential for faster global and UK growth
   •  There are huge amounts of uncertainty around BoE's estimate of 1% annual long-run productivity growth in UK

BOE Deputy Governor Ben Broadbent:

   •  Degree of UK spare capacity has shrunk
   •  Sees firming of inflationary pressures