BoE MPC member Gertjan Vlieghe said in a speech that “if the economy evolves broadly in line with our February central projection, then in my view it is likely that no further monetary stimulus is required… we will just complete the already announced QE programme”.
Though also, “given how low I think the neutral rate of interest is, there is no hurry at all to remove stimulus”, he added. “My preferred path for policy would be to keep the current monetary stimulus in place until well into 2023 or 2024, long enough to judge whether economic slack has indeed been eliminated fully, and inflation has returned to target sustainably, rather than being pushed up by temporary factors.”
