BOE’s Miles Saw Reasonable Case to Raise U.K. Rate Last Week

David Miles said there was a “reasonable” argument for the Bank of England to raise interest rates at its meeting last week in order to avoid faster tightening in future.

“I thought there was a case for beginning the journey now,” the BOE policy maker said in an interview in London on Monday as he explained how close he came to voting for higher borrowing costs at his final meeting on the Monetary Policy Committee. “It was a perfectly reasonable case.”