LONDON (Reuters) - New Bank of England rate-setter Silvana Tenreyro said she was not ready to vote to raise the Bank’s record low interest rates in November although she might do so in the coming months if inflation pressure builds in Britain’s labour market.
“My view is that we are approaching a tipping pint at which it would be necessary or justified to remove some of that stimulus,” she told British lawmakers on Tuesday.
“So my position now is that if the data out-turns are consistent with the picture I just described of an outward gap going towards zero, then I’d be minded to vote for a Bank Rate increase in the coming months. However that is very contingent on the data,” she said
Reporting by David Milliken; Writing by William Schomberg; editing by Stephen Addison