September 25, 2024 09:58 GMT
MNI BRIEF: BOE Needs Gradual, Steady-As-She-Goes Easing-Greene
BOE MPC member lays out preference for gradual easing.
MNI (LONDON) - The Bank of England should take a "gradual" approach to removing monetary policy restrictiveness, Monetary Policy Committee member Megan Greene said on Wednesday.
Speaking in Newcastle, Greene said this approach "motivated [her] most recent vote to hold Bank Rate at 5% in September, after we cut it by 25 basis points in August."
Although not discussing directly her outlook for the November vote, Greene said that "over time, (she) will be looking for incoming data to provide evidence" that the risks of inflation persistence are diminishing.
"Until then, I believe a cautious, steady-as-she goes approach to monetary policy easing is appropriate," she added.
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