FXStreet (Córdoba) – BoE’s David Miles said that even though he saw a “reasonable case” for rate hike last week, it does not need to start immediately.
“Sterling had gone up a bit, oil prices had fallen a bit, there were somewhat ambiguous signals from the labor market, but on balance it was a set of economic news that probably reduced at least the near-term inflation profile by a non-trivial amount,” Miles said. “For me that was what made the decision ultimately one to keep policy on hold.”
Despite the hawkish comments from Miles, keep in mind he is no longer a voting MPC member from next month.
(Market News Provided by FXstreet)