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- BoE' Deputy Governors Ramsden sees scope for higher rates after Brexit deal
BoE' Deputy Governors Ramsden sees scope for higher rates after Brexit deal
Bank of England Deputy Governor Dave Ramsden said he still saw a case for a gradual increase in interest rates if Britain manages a smooth departure from the European Union, maintaining a slightly more hawkish tone than some of his colleagues.
Britain's parliament is due to vote on Saturday on a new transition deal Prime Minister Boris Johnson agreed with Brussels, which would maintain existing trade arrangements for more than a year while longer-term trade barriers are discussed.
"The kind of guidance we've been giving - in the world ofa deal it still applies," Ramsden said.
"We're not saying over what timeframe, but limited and gradual (rate increases) is a reasonable qualitative framing," he added, referring to the BoE's longstanding guidance on rates.
Ramsden said he believed a transition deal could create some pick-up in investment and productivity if it brought clarity to businesses.
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