BoE’s Vlieghe says bleaker outlook calls for more cautious policy


The worsening global outlook and deep uncertainty over the outcome of Brexit call for a more cautious approach to monetary policy, the Bank of England’s Jan Vlieghe said today (February 14).

The monetary policy committee member had previously estimated one or two 25-basis point hikes per year would be necessary in the near term. He has now revised that outlook to just one hike per year.

Vlieghe noted in his remarks today that while global growth appeared to be slowing and Brexit uncertainty

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