BOE deputy governor Ben Broadbent speaking to Sky News earlier this morning
His comments echo that of Carney's at least week's inflation report presser after the report itself highligted concerns that the BOE had regarding negative inflation and saying that they would be prepared to cut rates or add QE if necessary
The MPC still believes that the next move in interest rates is likely to be up. But you are right we took the opportunity to say the effective lower bound (for rates) is somewhat lower than we thought it was 3-4 years ago
Also speaking this morning was hawk Martin Weale who warned once again,despite him and McCafferty changing their vote at the last meeting, that rates might need to go up sooner than markets anticipate
Nothing in these comments to set the cat amongst the pigeons but the debate understandably continues
Broadbent - The only way is up, probably