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Bank of England Deputy Governor Dave Ramsden said Wednesday that the conditions "for considering tightening could be met somewhat sooner than I had previously expected," with activity accelerating and Covid restrictions being removed somewhat earlier than previously assumed.
Speaking at a Strand Group event at King's College London, Ramsden said that he now put more weight on his inflationary than disinflationary scenario but he warned that it should not be taken for granted that "the recent strength in demand and inflation will be sustained." Ramsden's remarks show a centrist voter on the MPC edging towards earlier tightening, with the balance of risks shifting.