Bank of England's McCafferty Sees Risks From Delaying Rate Rise
- MPC's voting differences are `of degree rather than kind'
- Little evidence of risks producing material change in outlook
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Ian McCafferty said global threats to the U.K. economy simply add to the risks affecting its outlook and don’t change his view that a Bank of England interest-rate increase is needed sooner rather than later.
"Clearly there are greater risks out there,” the Monetary Policy Committee member said in an interview on Bloomberg Television. “The question is the judgment as to whether these affect the central outlook for the U.K. economy or whether they simply compound some of the downside risks, and therefore any skew, on the outlook. My view at the moment is that, if anything, it compounds the downside risks.”