A member of the Bank of England's monetary policy committee sees it as appropriate to raise interest rates, and made the following statement:
- The Bank of England is following the monetary tightening policy.
- UK rate outlook depends on uncertain economic outlook over next few years.
- Neutral UK interest rate is also very uncertain.
- If global recovery and labour market continue to improve then its telling us further rate rises are likely.
- Households are leveraging up when not much slack in the economy.
- There is evidence that an improvement in the labor market contributes to wage increases.
- Members should focus their attention on interest rates.
