Bank of England’s Miles: May vote for a rate rise before his term ends

Bloomberg headline says that the Bank of England’s Miles may vote for a rate rise before his term ends

David Miles comments reported by the UK Times fish and chip wrapper newspaper

Also:

• Says the UK economy is strong and robust
• Estimates spare capacity is the ‘top end’, 1 – 1.5%
• Chance of rate rise before spring of 2015
• Signalled that he would vote for an increase before his term ends
• Hinted that the minutes of this month’s rate-setting meeting, to be published tomorrow, would show that the committee was moving closer to ending five years of policy at a record low 0.5 per cent

Article is here (gated): Bank sets course for early interest rate rise

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David Miles is Professor of Financial Economics at Imperial College Business School and is a member of the Monetary Policy Committee at the Bank of England (his current term at the BOE ends in until May 2015). He was was chief UK Economist at Morgan Stanley from October 2004 to May 2009.