EDINBURGH (MNI) – Bank of England Monetary Policy Committee member
David Miles says he is open-minded over what the next policy move should
be but the big picture is the economy has been “flattish” and the MPC
has been right to make policy more expansionary.

Speaking to reporters Miles said the recent data have been mixed
but he refused to say if yet more stimulus would be required.

“It has been a mixed bag of data really but I think the bigger
picture is that over the last 12 months, even the last six months, we’ve
seen pretty flattish output. It looks anaemic and weak, so the right
strategy has been to make monetary policy yet more expansionary which is
what we’re doing now,” Miles said

“Let’s see where we are over the next few meetings, I’m open-minded
as to what the next move should be,” he said.

-London newsroom 0044 20 7862 7491; email:wwilkes@marketnews.com