Monday, August 2

BoE’s Haskel sees no need to curb stimulus in foreseeable future

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LONDON — Bank of England interest-rate setter Jonathan Haskel said on Monday that it was not right to consider tightening monetary policy in the foreseeable future, despite a recent rise in inflation.

“In the immediate term, the risk of a pre-emptive monetary tightening curtailing the recovery continues to outweigh the risk of a temporary period of above-target inflation,” Haskel, a member of the BoE’s Monetary Policy Committee, said in a speech during an event organized by the University of Liverpool.

“For the foreseeable future, in my view, tight policy isn’t the right policy.”

Last week, two other MPC members said the time might be nearing for the BoE to rein in the huge stimulus program it deployed last year to support the British economy during the coronavirus pandemic. (Writing by William Schomberg, editing by David Milliken)

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