BoE: Risks to economy seen in either direction
|Key highlights from BoE's monetary policy summary (via LiveSquawk)
- Statement sticks close to February QI report assumptions
- Monetary policy can respond in either direction
- Risks to economy seen in either direction
- Still appropriate to look through likely near-term overshoot in prices
- MPC notes subdued pace of wage growth compared to inflation expectations
- Policy path will depend on outcome of supply, demand and exchange rate
- Measures of overall activity remain resilient
- Likely inflation overshoot almost entirely down to sterling depreciation
- There are limits to tolerance of above-target inflation
- MPC points to weak economic data as reason for short/long-term sterling interest rates
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