BOE's Hogg still conducting her appointment interview by/with the TSC 28 Feb
- I do not see evidence that we have a bubble in gilt prices
- really welcomed BOE steps to put loan to income cap on residential mortgages
- unwinding of QE will probably be slow
- does not see a major distinction between unwinding QE and letting it run off as gilts mature
Ryan had earlier comments here
Hogg is the new Deputy Governor for Markets and Banking
Watch it live here. Certainly an interesting debut. The TSC are probing into her illustrious family background including her mother's role in the Lords and brother's role at Barclays. Plus her own previous work in offshore banking arms at Santander.
Getting a grilling now on " How is money created"
Having earlier declared that she would be happy to stand her ground on points of difference with Carney the TSC will love it if they can glean more from her than they're currently getting from the rest of the MPC. I'd imagine Mr C will be having a quiet word afterwards though.
She started the session in punchy mood but now appears to be somewhat on the back-foot/flustered.
