- Have revised down my medium-term growth outlook
- Stigma of using BOE’s discount window has largely been resolved
- Disruptions from euro zone crisis poses greatest risk to UK recovery
- If economy needs more stimulus, would look to boost bank credit flow to give some support
Elsewhere BOE’s Miles:
- Cutting bank rate not attractive while QE still effective
- Very substantial risks that demand stays weak
- There was unanimous support on MPC for measures to bring down funding costs
