BOE’S LOMBARDELLI: I SUPPORT A GRADUAL REMOVAL OF MONETARY POLICY RESTRICTION

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Bank of England (BoE) Deputy Governor for Monetary Policy Clare Lombardelli said on Monday, “I support a gradual removal of monetary policy restriction.“

Additional quotes

The UK economy has made good progress on disinflation.

Persistent components of inflation and uncertainties around how the labour market will evolve are cause for concern.

We need careful observation of all the relevant economic data and intelligence as we seek to gradually reduce policy restriction.

On Bernanke review, publishing a form of expected path risks suggesting greater certainty about future rates than it is possible to give.

Will be monitoring the flow of data over the coming months so we can calibrate our policy path as needed.

Too early to declare victory on inflation.

Often said that the last mile may be the hardest, and that’s where we are now.

Outlook for wages and services prices is unclear from here.



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