The U.K. economy probably has more spare capacity than the Bank of England’s main calculations show, policy maker David Miles said, highlighting a key area of divergence among officials.
Bank of England policy maker David Miles said that the U.K.’s economic recovery has faltered and the housing market is undergoing an “extraordinary period of adjustment.”
Bank of England policy maker David Miles said officials were right to loosen policy to aid an “anemic” economy and indicated he may be open to adding further to stimulus.
Bank of England policy maker David Miles said the lingering impact of the financial crisis on investment decisions means policy makers may have to limit how high they increase their key interest rate in the coming years.
"There is no great urgency in starting the process of moving monetary policy back towards a more normal setting."
- David Miles on Dec 21, 2014