BoE chief economist Andy Haldane wrote in the...>

BOE: BoE chief economist Andy Haldane wrote in the Sun over the weekend, "for me

personally, the time is nearing when a small rise in rates would be prudent to

nip any inflationary risks in the bud. Acting early with a rate rise acts as

insurance against the need for faster and larger rises in interest rates in

future."

- While Haldane's hawkish leanings have been apparent for 2 years or so, the

comments come at a time when markets are dovishly repricing the majority of the

world's central banks. Interpolated OIS price a ~50% chance of at least one BoE

cut through the end of 2020 at writing.

- As an aside, Haldane dissented in favour of hike ahead of the BoE's most

recent rate move. Back in June 2018 he voted for a hike alongside Michael

Saunders & Ian McCafferty, in what was a 6-3 vote to leave rates unchanged.

Rates were subsequently hiked in August of last year.