More comments flowing in from the new appointed BOE MPC member Haskel, as he continues to testify before the Treasury Select Committee (TSC) in parliament.
Interest rates less effective in stimulating business investment as firms rely more on intangible assets.
BOE needs to think about intangible assets when judging ‘speed limit’ at which rates might need to be raised.
“I am a bit more optimistic about economic benefits of technological progress than some.”
Depending on Brexit negotiations, there may at least be a temporary lull in UK economy.
Has scope to cut rates slightly lower in case of economic downturn, could do more QE if financial markets dislocated.
More slack in the economy would weaken case for interest rate rise.
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