The chief economist of the Bank of England (BOE), Huw Pill, said on Friday that the central bank still has a way to go in tightening monetary policyas reported by Reuters.
Additional comments
“Supported by the independence granted to the Monetary Policy Committee, we are capable of making the sometimes difficult decisions to return inflation to 2%“.
“Hardening still has more travel“.
“Inflation is expected to go into double digits.”
“The Monetary Policy Committee still has not made a decision on the start of the sale of bonds“.
“If market dysfunction takes hold, asset sales could, if necessary, be paused.”
“Asset sales have the potential to tighten monetary and financial conditions – I would expect them to.”
“The impact of GILTS sales will be – in fact, may already be – “discounted” in financial pricesespecially in the performances of the GILTS.”
“The Monetary Policy Committee sees an upward bias in risks around the inflation baseline in the latter part of the forecast period.”
“The Monetary Policy Committee needs to ensure that domestic pricing does not reach a self-sustaining, expectations-driven momentum.”
Source: Fx Street
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