HomeLive CommentsBoE Vlieghe: Imminent and significant improvement in data need to justify waiting

BoE Vlieghe: Imminent and significant improvement in data need to justify waiting

BoE policymaker maker Gertjan Vlieghe told Financial Times on Sunday that it’s been a “close call” on whether he’d vote for a rate cut. And, “it doesn’t take much data to swing it one way or the other”. He added, “I really need to see an imminent and significant improvement in the UK data to justify waiting a little bit longer.”

Vlieghe noted there will be a lot of information coming in “as soon as the end of January”. “We’ll get a lot of business and some household surveys that cleanly relate to the period after the election, so that will give us an initial read as to how people are responding.”

Outgoing Governor Mark Carney said last week that BoC could cut interest rate in economic weakness persists in to 2020. Another MPC member Silvana Tenreyro also said she could be inclined to a cut a sluggishness remains. The upcoming data from UK this week will be important tests for the Pound.

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