BOE deputy governor Jon Cunliffe: is now testifying before the British Parliament’s Treasury Select Committee, with the key comments found below.
Output surveys point to subdued activity in the near-term.
Outlook of course will be materially affected by Brexit outcome.
Strong Q3 growth probably reflects a recovery of weakness.
But does not contain much information about the future.
Forward-looking indicators are largely reflecting Brexit uncertainties.
Expects gradual tightening of policy.
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