–BOE Tucker: ‘Choppy Waters’ Ahead For Everybody
LONDON (MNI) – There are ‘choppy waters’ ahead but the Bank of
England’s Monetary Policy Committee is determined to get inflation back
to target, Deputy Governor Paul Tucker said in a BBC radio interview.
Tucker told BBC Radio Oxford that the UK was in a stronger position
than it had been, but risks remained in the world economy.
“The world is still a hazardous place and there are difficulties
around Europe,” Tucker said.
“I think the UK is in a better position now than perhaps it was a
few months ago. The action has been taken to put the UK public finances
on a better footing over the next few years and provide some insulation
for our economy,” he said.
“There are choppy waters ahead for almost everybody. It is not
easy, but probably going about as well as people could have expected it
to go, given how big the fall was during the crisis,” the BOE Deputy
Governor said.
He sought to reassure listeners that the BOE MPC has not taken its
eye off meeting its inflation target.
“The Bank of England is absolutely determined to return inflation
from its currently uncomfortably high level of around 3.0% back down to
our target of 2.0% over the next few years and while we are doing that
to support recovery in the economy as well,” Tucker said.
“I think that is what we are seeing so far and we will do our very
best to continue to deliver that,” he said.
–London Bureau: Tel: +20 7862 7491; drobinson@marketnews.
[TOPICS: MT$$$$,M$X$$$,M$$FI$,M$$BE$]
