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MNI BRIEF: Hold Rates Until Softer Inflation More Certain - BOE Haskel

(MNI) London
BOE MPC member Jonathan Haskel makes clear he will back unchanged rates at his final meeting in Aug
Bank of EnglandPolicy NewsHomepageCentral Bank NewsUKCEEMEABriefGlobalStoryRegion

MNI (LONDON) - Bank of England Monetary Policy Committee member Jonathan Haskel made clear Monday that he will not back a rate cut in his final meeting in August.

At the hawkish end of the MPC spectrum, Haskel said that the recent return of inflation to target was temporary and that he expected it move back above target and to stay for "quite some time".  He said that the wage-price system "has been subject to a sequence of enormous shocks over recent years ... inflation will remain above target for quite some time. I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably."

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MNI (LONDON) - Bank of England Monetary Policy Committee member Jonathan Haskel made clear Monday that he will not back a rate cut in his final meeting in August.

At the hawkish end of the MPC spectrum, Haskel said that the recent return of inflation to target was temporary and that he expected it move back above target and to stay for "quite some time".  He said that the wage-price system "has been subject to a sequence of enormous shocks over recent years ... inflation will remain above target for quite some time. I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably."

Keep reading...Show less