BoE’s Greene: Cautious, steady-as-she goes approach to monetary policy easing is appropriate

Bank of England (BoE) policymaker Megan Greene said on Wednesday that a “cautious, steady-as-she-goes approach to monetary policy easing is appropriate.”

Additional quotes

Some slack in the economy needs to open up in order to return inflation sustainably to target over the medium-term.

Indicators of inflationary persistence have broadly been moving in the right direction.

Appropriate to take a gradual approach to removing restrictiveness.

Cautious, steady-as-she goes approach to monetary policy easing is appropriate.

Will be looking for incoming data to provide evidence that the risk of persistent inflation pressure is diminishing.

Wage growth has fallen but remains above what our suite of models can explain.

Risks to activity are to the upside, which could suggest that the long run neutral rate is higher.

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