BoE’s Ramsden: Inflation likely to stay above target in medium-term

The BoE Deputy Governor Ramsden, testifying before parliament’s Treasury Committee this Tuesday, agreed with the central bank’s collective view that policy could move in either direction in no-deal Brexit scenario.  

Inflation is likely to stay above target in the medium-term and see some limited, and gradual tightening over the forecast period might, Ramsden added further.

Meanwhile, the BoE Governor Mark Carney, adding to his earlier comments, also reiterated that gradual hikes are needed if the economy performs as expected. Carney was further noted saying that the BoE can provide stimulus if it is able to bring inflation back to target.