Comments from the MPC member
- Sees material amount of spare capacity in UK economy
- Near-term risks skewed to the downside
- Medium-term supply side issues from COVID
- Expects temporary period of subdued inflation pressure
This is a solid commitment to more easing but no word yet on negative rates.
More:
- Evidence suggests some positives for negative rates
- Effectiveness of negative rates is probably contingent on structure of financial system and the economic cycle
