LONDON, Sept 22 Bank of England policymaker
Kristin Forbes said she did not yet see a case for a further
interest rate cut to help Britain's economy after June's vote to
leave the European Union, putting her at odds with the majority
of her fellow rate-setters.
Forbes, an external member of the BoE's Monetary Policy
Committee, last month voted in favour of a cut in rates to a
record low 0.25 percent but opposed restarting purchases of
Last week the BoE said the economy appeared to be slowing
less rapidly in the short term than it expected in August, but
it also said most policymakers still thought the longer-term
outlook warranted another rate cut later this year.
In a speech due to be delivered on Thursday, Forbes said she
believed August's rate cut and measures to support bank lending
were probably sufficient for now.
"The initial effect on the UK economy of the referendum has
been less stormy than many expected," she said. "Looking
forward, I am not yet convinced that additional monetary easing
will be necessary to support the economy," she added.
(Writing by David Milliken; editing by William Schomberg)