Bank of England’s Tenreyro has crossed the wires saying, “a few rate rises will be needed, but timing is an “open question”.
Further quotes, (source Reuters):
- Tenreyro says she expects a gradual tightening of monetary policy will be needed over next three years.
- Tenreyro says a few rate rises will be needed, but timing is an open question.
- Much of weakness in UK economy in q1 likely to be erratic but raises the possibility of some underlying weakness in demand.
- Likely that exchange-rate pass-through effect on cpi will fade slightly more quickly than we expected.
- Tightening of UK labour market likely to lead to pick up in domestic cost pressures.
- Future changes in policy can act as substitutes for immediate change.
- Recent political uncertainties in Europe mean Bank of England must remain watchful about the Global economy.
- Costs of waiting a short period for more information are small, a clearer picture of domestic demand likely quite soon.
About Silvana Tenreyro
Silvana Tenreyro was appointed to a 3-year term on the Bank of England Monetary Policy Committee from July 2017. She has been a professor of economics at the London School of Economics.
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