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Haskel explains why he voted for a hike in February

BOE
  • Following fellow-hawk Mann's speech yesterday, Haskel has given an interview to Reuters to explain his dissent at the February MPC meeting (the full story is here).
  • "The signs that we've seen thus far are encouraging. I don't think we've seen quite enough signs yet. But if we accumulate more evidence on persistence, then by the very logic I've just set out, I'd be happy to change my vote."
  • Like Mann he also used the "finely balanced" language to describe his decision - wording that was used by the wider MPC in the Minutes but was dropped along with the wider change of tone and removal of the hawkish bias in the February Minutes.
  • However, his language that he wanted "to wait a bit longer to accumulate more evidence on that persistence" seems to be less hawkish than Mann.
  • "I'm not going to apologise for banging on about persistence because I think we're right to."
  • The story goes on to say that "Haskel said he had a "preference for gradualism" on monetary policy - outside crisis periods - and he thought Britain needed high borrowing costs given inflation risks in the economy."
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