FOREX TradingCharts.com

Financial News: UK Economy Is "Overstimulated", Says BoE's Forbes

UK Economy Is "Overstimulated", Says BoE's Forbes

06/23/2017 - 03:34:00 (RTTNews)

(RTTNews) - The UK economy appears to "overstimulated" and the monetary policy has been set too loosely, the monetary policy committee member of the Bank of England Kristin Forbes said Thursday.

This is not an economy that is too weak to support an increase in interest rates, she said at the London Business School. The UK is clearly outperforming or close to equilibrium by every measure except wage growth.

Given that UK inflation is now likely to reach 3 percent, and is forecast to remain above 2 percent for at least three years, this suggests "some urgency" to hike rates, she said.

Forbes, Ian McCafferty and Michael Saunders sought a 25 basis point increase in interest rate at the June session.

Forbes is set to step down from the rate-setting body and will not be present at the next session on August 3.

Regarding the dissenting votes, she observed that not a single dissent since 2013 has come from an internal member.

This is a sharp change from before 2013, when dissents were spread across external members, internal members, and even at times the Governor, Forbes noted.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Indonesia Likely To Hold Rates This Year Despite Weak Growth Momentum (08 hr(s), 42 min(s), 27 sec(s) ago)
(RTTNews) - Bank Indonesia is likely to keep its policy rate unchanged at least until the end of t ...Full Story»

RBNZ Unlikely To Raise Interest Rates Until 2019 On Weaker Inflation (08 hr(s), 52 min(s), 27 sec(s) ago)
(RTTNews) - The Reserve Bank of New Zealand is unlikely to raise its interest rate until 2019, as ...Full Story»

UK Budget Deficit Widens More Than Forecast (10 hr(s), 35 min(s), 27 sec(s) ago)
(RTTNews) - The UK budget deficit widened more-than-expected in June as debt interest increased no ...Full Story»

Croatia Jobless Rate Falls Further In June (11 hr(s), 53 min(s), 27 sec(s) ago)
(RTTNews) - Croatia's unemployment rate declined for the fifth straight month in June, figures ...Full Story»

Latvia PPI Climbs For Fifth Month (12 hr(s), 07 min(s), 27 sec(s) ago)
(RTTNews) - Latvia's producer prices increased for the fifth successive month in June, figures ...Full Story»

Ireland Factory Gate Prices Fall In June (12 hr(s), 28 min(s), 27 sec(s) ago)
(RTTNews) - Ireland's factory gate prices decreased for the first time in seven months in June ...Full Story»

Australian Financial System More Resilient To Shocks: RBA's Bullock (13 hr(s), 01 min(s), 27 sec(s) ago)
(RTTNews) - The Australian financial system is more resilient to shocks than it was in the past, R ...Full Story»

Spain Trade Deficit Widens In May (13 hr(s), 09 min(s), 27 sec(s) ago)
(RTTNews) - Spain's foreign trade gap widened in May from a year ago, as imports grew faster t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Indonesia Likely To Hold Rates This Year Despite Weak Growth Momentum

07/21/2017 - 10:10 AM (RTTNews)
(RTTNews) - Bank Indonesia is likely to keep its policy rate unchanged at least until the end of t ...Full Story>>

RBNZ Unlikely To Raise Interest Rates Until 2019 On Weaker Inflation

07/21/2017 - 10:00 AM (RTTNews)
(RTTNews) - The Reserve Bank of New Zealand is unlikely to raise its interest rate until 2019, as ...Full Story>>

UK Budget Deficit Widens More Than Forecast

07/21/2017 - 08:17 AM (RTTNews)
(RTTNews) - The UK budget deficit widened more-than-expected in June as debt interest increased no ...Full Story>>

Croatia Jobless Rate Falls Further In June

07/21/2017 - 06:59 AM (RTTNews)
(RTTNews) - Croatia's unemployment rate declined for the fifth straight month in June, figures ...Full Story>>

Latvia PPI Climbs For Fifth Month

07/21/2017 - 06:45 AM (RTTNews)
(RTTNews) - Latvia's producer prices increased for the fifth successive month in June, figures ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.