BOE's Ramsden: I can envision considering tightening sooner that I previously expected

Author: Adam Button | Category: Central Banks

Comments from the MPC member

Comments from the MPC member
  • I put more weight on my inflationary scenario than deflationary scenario
  • After wave of labor supply, likely to still be short of full employment
  • Inflation is currently well above 2%
  • It's too early to rule out deflationary scenario
  • 'Transitory' does not mean 'here today gone tomorrow'
  • As conditions for tightening are met, there's also the question of how we might tighten
  • Inflation is already overshooting the target and it is less clear that there remains a degree of spare capacity
  • CPI could rise as high as 4% for a period later this year before falling back to 2%
  • There are certainly upside risks to household spending
These are certainly some hawkish comments but that fits in with Ramsden's usual stance.

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