BOE’s Ramsden: No QE reduction until bank rate at higher level

Additional headlines crossing the wires from the BOE MPC member Ramsden, as he testifies before the TSC:

Sees real risk that Brexit uncertainty means business investment could turn out weaker than in BOE central forecast

Business investment growth might not compensate for sluggish consumption growth over the forecast

Resilience of consumers may surprise BOE again over forecast horizon as squeeze in real incomes eases

Measures of domestically generated inflation are consistent with there still being some slack in the economy

Measures of domestically generated inflation generally remain a little below levels consistent with the 2% target

No sign of second round effects onto wages from higher recent inflation

Inflation expectations appear well anchored, despite the sharp rise in headline inflation

When time to unwind QE, it will be a priority to ensure it's done to ensure gilt market continues to function smoothly

No QE reduction until bank rate at higher level