BoE's Vlieghe says economy needs help for at least several quarters

  • 7/26/2021
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LONDON, July 26 (Reuters) - Bank of England interest-rate setter Gertjan Vlieghe said the central bank should not scale back its stimulus, possibly until well into 2022, because a recent rise in inflation is likely to be temporary and COVID-19 remains a threat for the economy. “I think it will remain appropriate to keep the current monetary stimulus in place for several quarters at least, and probably longer,” Vlieghe said in a speech to the London School of Economics on Monday. “And when tightening does become appropriate, I suspect not much of it will be needed, given the low level of the neutral rate.” (Reporting by William Schomberg and Kate Holton; editing by Michael Holden) Our Standards: The Thomson Reuters Trust Principles.

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