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7/26, 1:15 PM (Source: TeleTrader)
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BoE's Vlieghe: Inflation in UK likely temporary

External Member of the Bank of England's Monetary Policy Committee, Gertjan Vlieghe, said on Monday he hasn't changed his view that the inflation peak in the United Kingdom will likely be temporary.

Vlieghe argued it would remain appropriate to keep the existing monetary stimulus in effect for at least several more quarters.

"When tightening does become appropriate, I suspect not much of it will be needed, given the low level of the neutral rate... The next time a monetary stimulus is needed, I'd be fine with decreasing the bank rate to -0.5% or even -0.75%," he noted in his last address as the MPC's external member.

Breaking the News / ND