The Bank of England (BOE) policymaker Gertjan Vlieghe is on the wires now, via Reuters, making a scheduled speech, with the key headlines noted below.
Interest rates likely to stay lower for years.
Structural forces unrelated to monetary policy are likely to keep rates low.
BOE unlikely to be able to cut rates as it did in the previous downturn.
BOE analysis rules out taking rates into negative territory.
Does not believe that a recession is overdue.
The Cable retreated quickly from daily tops of 1.2344 on BOE’s Vlieghe’s comments, but holds the recent upside on upbeat UK growth figures and revived hopes of an Irish backstop breakthrough.
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