Saunders: "consider it quite likely that additional monetary easing will be appropriate"

Saunders sounding dovish here: "A downside scenario would be very costly. It would imply greater longterm scarring on potential growth through hysteresis effects. And, with relatively limited monetary policy space, it would be harder to return inflation to target from below than from above. Risk management considerations imply we should lean strongly against downside risks at present. The Committee noted at the August meeting that it would continue to monitor the situation closely and stands ready to adjust monetary policy accordingly to meet its remit. I consider it quite likely that additional monetary easing will be appropriate in order to achieve a sustained return of inflation to the 2% target."