BoE MPC member Michael Saunders said it’s “quite likely that additional monetary easing will be appropriate in order to achieve a sustained return of inflation to the 2% target”. “My hunch is that risks lie on the side of weaker growth and a longer period of excess supply than forecast,” he added.
Regarding post-Brexit outlook, he said, “risks probably lie on the side of a thinner trade deal, a less-smooth transition, or more persistent Brexit-related uncertainty. More generally, global trade policy uncertainty remains high.”
