Further comments by incoming BOE member John Haskel
- Says sure QE is still having some effect in propping up UK financial asset prices
- There may be more slack in the economy than others do
- Less worried about the narrow output gap
There's still some way to go before QE unwinding begins. The BOE last week adjusted the threshold bank rate to 1.50% from 2.00% to begin tapering of asset purchases but we'll get there when we get there. An August rate hike isn't even certain at this point, what more three more rate hikes after that.
