Outgoing BoE Member Saw Case for Rate Hike

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.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza