Thursday, 27 May, 2021
BOE – VLIEGHE
BANK OF ENGLAND MPC’S VLIEGHE SAYS CENTRAL SCENARIO IS THAT THE ECONOMY EVOLVES SIMILARLY TO THE MPC’S CENTRAL PROJECTION IN MAY, BUT WITH SOMEWHAT MORE SLACK THAN IN THE CENTRAL PROJECTION
* 27-May-2021 12:03:04 – BANK OF ENGLAND MPC’S VLIEGHE SAYS WORRY THAT THE TRANSITION OUT OF FURLOUGH DOES INVOLVE A MODEST RISE IN THE UNEMPLOYMENT RATE, WHILE THE ECONOMY’S SUPPLY POTENTIAL IS SOMEWHAT LESS ADVERSELY AFFECTED, SO THAT THERE IS STILL SOME EXCESS SUPPLY
* 27-May-2021 12:03:13 – BANK OF ENGLAND MPC’S VLIEGHE SAYS THE FIRST RISE IN BANK RATE IS LIKELY TO BECOME APPROPRIATE ONLY WELL INTO NEXT YEAR, WITH SOME MODEST FURTHER TIGHTENING THEREAFTER
* 27-May-2021 12:03:43 – BANK OF ENGLAND MPC’S VLIEGHE SAYS SHOULD THE TRANSITION OUT OF FURLOUGH HAPPEN MORE SMOOTHLY SOMEWHAT EARLIER RATE RISE WOULD BE APPROPRIATE
* 27-May-2021 12:03:54 – BANK OF ENGLAND MPC’S VLIEGHE SAYS IT WOULD PROBABLY TAKE UNTIL THE FIRST QUARTER OF NEXT YEAR TO HAVE A CLEAR VIEW OF THE POST-FURLOUGH UNEMPLOYMENT AND WAGE DYNAMICS, SO A RISE IN BANK RATE COULD BE APPROPRIATE SOON AFTER
* 27-May-2021 12:04:11 – BANK OF ENGLAND MPC’S VLIEGHE SAYS STILL POSSIBLE THAT MONETARY POLICY MIGHT BE REQUIRED TO SIMULATE THE ECONOMY A LITTLE FURTHER TO HELP ELIMINATE SLACK AND ENSURE INFLATION IF GROWTH DISAPPOINTS
* 27-May-2021 12:04:49 – BANK OF ENGLAND MPC’S VLIEGHE SAYS IF INTEREST RATES DO NEED TO RISE ONCE THE DATA SHOW THAT MEDIUM-TERM INFLATIONARY PRESSURES ARE RISING, THEN I SUSPECT THAT INTEREST RATES WILL NOT NEED TO RISE VERY MUCH
* 27-May-2021 12:05:13 – BANK OF ENGLAND MPC’S VLIEGHE SAYS NEUTRAL RATE OF INTEREST IS VERY LOW RELATIVE TO PAST DECADES
* 27-May-2021 12:05:24 – BANK OF ENGLAND MPC’S VLIEGHE SAYS TIGHTENING TOO EARLY WOULD BE A MUCH COSTLIER MISTAKE THAN TIGHTENING TOO LATE
* 27-May-2021 12:05:43 – BANK OF ENGLAND MPC’S VLIEGHE SAYS DOES NOT TAKE YEARS FOR INTEREST RATES INCREASES TO START HAVING AN EFFECT
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