- BoE's MPC member Vlieghe: Would be comfortable to cut bank rate to -0.50% or -0.75% if more stimulus is required the next time
Market news
26 July 2021
BoE's MPC member Vlieghe: Would be comfortable to cut bank rate to -0.50% or -0.75% if more stimulus is required the next time
- I think it will remain appropriate to keep current stimulus in place for several quarters at least, and probably longer
- When tightening becomes appropriate, I suspect not much of it will be needed
- I have not changed my view that this inflation peak is likely to be temporary
- We are not out of the woods yet in terms of virus and impact on economy
- Impact of further rate cut is likely to decline, though overall impact is still positive
- The next time monetary stimulus is needed, I'd be fine with decreasing bank rate to -0.5% or even -0.75%
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