BOE’s McCafferty said doors open for rate cut and QE if needed

FXStreet (Mumbai) – The BOE hawk McCafferty stated that the next move in interest rates will be up, but added that theoretically it is possible to cut rates if needed.

McCafferty also said the downside risks to the economy have increased recently, and the QE could still have a positive effect.

He also added that there is a risk of overshooting the inflation target in 2017 as the core CPI is lot higher than the headline CPI.

The BOE hawk McCafferty stated that the next move in interest rates will be up, but added that theoretically it is possible to cut rates if needed.

(Market News Provided by FXstreet)