BOE new girl signing in
I would have no tolerance for a less than credible path back to target, from either above or below target
There may be upside risks to business investment as new trading arrangements with EU become clearer
Household and market based inflation measures are more elevated than usual for the near term
Group think isn't alive and well at the BOE
There are risks of sudden changes in consumption
Would look at commercial real estate if the BOE needed more macroprudential tools in the future
- Says she is ready to challenge the governor publicly
- When BOE reduces size of asset purchase facility, balance sheet is unlikely to return to pre-crisis level
- Has disagreed previously with Carney as COO over staff issues and organisation
- Forward guidance needs to cover things like BOE statements on how to exit QE
She's speaking at her appointment hearing with the Treasury Select Committee, and on the face of it, she's making a strong case that she's ready to ruffle some feathers if needed. We'll have to see which way she leans on the hawk/dove scale as she's not really set a position yet.
The new BOE deputy governor signs in
