Bank of England governor: UK recovery levelling off as firms struggle to fill vacancies – business live
Rolling coverage of the latest economic and financial news
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"It actually was four-all" – Andrew Bailey says 4 MPC members think necessary (but not sufficient) conditions for a rate rise have been met, 4 think growth and inflation outlook still too weak.
Bailey, Broadbent and Ramsden told Treasury Committee they all thought conditions had been met. Tenreyro said they hadn't. None judged a rate rise was appropriate now though. (Saunders presumably also thinks conditions met, so Cunliffe/Haskel/Vlieghe implicitly did not.)
Full story on Bailey shedding more light on how many MPC members think some minimum conditions for a rate rise have been met (though he was clear that it is still some way off) https://t.co/Syn9DYFGhg
BOE GOV. BAILEY: BANKS CLAIM THAT THE RATE OF REPAYMENT OF COVID LOANS IS GREATER THAN PROJECTED, ALTHOUGH IT IS STILL EARLY DAYS.
BOE GOV. BAILEY: REPAYMENT OF COVID LOANS MAY BE EASIER THAN WE IMAGINED ON AVERAGE, BUT IT WILL VARY BY SECTOR.
