Central bankers should pay greater heed to the more complex aspects of the monetary transmission mechanism, according to the Bank of England's (BoE) newest policy-maker, Gertjan Vlieghe

Aspects such as debt, demographics and the distribution of income are difficult for central banks' "workhorse" models to handle, Vlieghe said, but nevertheless have important policy implications. The combination of such factors made him more "patient" over the timing of an eventual rate hike, he said

Vlieghe, who