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- BOE's Monetary Policy Committee member Haskel: Downside risks linger over BoE's forecasts
BOE's Monetary Policy Committee member Haskel: Downside risks linger over BoE's forecasts
- UK outlook has weakened in the past year
- Current data justifies looser monetary policy
- Cutting interest rates now would be insurance against rates getting stuck near zero in future
- Brexit uncertainties may become entrenched and world economy may weaken
- Sees substantial chance of "quite weak" UK inflation in near-term
- Sees growth in near-term
- Says slow and gradual rise in bank rate may be needed if path to post-Brexit EU trade agreement smoother than he expects
- Effect of unconventional policies such as QE "much more uncertain" than for traditional tools
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