BoE Mccafferty has been speaking on LBC radio and has said that there is plenty of room for more QE in case of a downturn.
Key quotes:
- Low interest rates are likely to be with us for quite a significant period of time.
- Most on the MPC see rate rises in the next few years.
- We do see inflation pressures building up.
- Would normally expect to see business investment in UK growing by double digits, slow growth is due to Brexit uncertainty.
About Ian McCafferty
Ian McCafferty joined the Monetary Policy Committee at the Bank of England in September 2012. Prior to his appointment, he had been Chief Economic Adviser to the CBI since September 2001.
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