The Bank of England could risk pushing inflation below 2% if it continues to hike interest rates, warned departing monetary policy committee member Silvana Tenreyro.
In her final speech as an MPC member yesterday (29 June), Tenreyro argued further hikes in an economy undergoing an external energy price shock could be "counterproductive". Tenreyro, who has sat on the MPC as an external member since 2017, will be replaced by economist Megan Greene on 5 July. BoE chief economist Pill defends inflation forecast record She is one of two members of the MPC to consistently vote against interest rate hikes, and defended her decision to vote against the recent 50bps hike due to "what the latest data implied about the medium term". ...
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