BOE’s Breeden: I have become less concerned that rates might need to be tightened further

  • Need more evidence to be confident that UK economy is progressing as per forecast
  • My focus has shifted to thinking about how long rates need to remain at current level
  • Will look at how pay growth and demand are influencing firms’ pricing decisions

This just reaffirms that there are different lines of thinking within the BOE at the moment. That was already evident from the bank rate vote last week. Breeden’s view is one that is more aligned to the overall policy stance while Dhingra showed which side she is on yesterday here.

This article was written by Justin Low at Source