Bank of England policymaker David Miles said on Monday he had seen a reasonable case to vote for higher interest rates at his final policy meeting last week but did not find the arguments conclusive.
Speaking to Bloomberg News, Miles said the BoE might have to raise rates “slightly” faster if it delays starting to raise them for too long. But overall the sharp weakening in the short-term outlook for inflation persuaded him not to vote to tighten policy.
“It was a perfectly reasonable case (to raise rates) … but it wasn’t a compelling clear-cut case one way or the other for me,” he said.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.