BOE MPC member, Gertjan Vlieghe, comments
- Usefulness of a policymaker should never be measured in their ability to forecast a recession
It's interesting that he's bringing about concerns of a recession. Right now, it's a bit of a tough situation for the BOE as the labour market continues to defy the economic slowdown and political uncertainty that is plaguing the nation.
In the bigger picture though, Brexit uncertainty is still the dominant factor and will win out over whatever conditions that may present itself prior to Brexit being resolved. Hence, the BOE will still have to wait before playing ball in this regard.
