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- BoE MPC member Tenreyro: disorderly Brexit more likely to require loosening of monetary policy than tightening
BoE MPC member Tenreyro: disorderly Brexit more likely to require loosening of monetary policy than tightening
easy to envisage other scenarios requiring opposite response
sterling would likely appreciate after a smooth Brexit, which would limit inflation pressure
will need a small amount of tightening over next 3 years after smooth Brexit
before voting for rate hikes, need to be confident of demand growing faster than supply, increase in domestic inflation pressure
i suspect UK economy ended 2018 with some amount of spare capacity
supply in UK has been growing in line with demand over past couple of years, if not slightly faster
trade tensions, US tariffs on china are biggest drivers of global slowdown
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