March 23 Bank of England policy maker Gertjan
Vlieghe said a rise in inflation would not make him consider
raising interest rates, The Times reported on Friday.
Vlieghe told The Times inflationary pressure is the result
of sterling's devaluation and the consequent rise in prices of
products such as fuel and food. (bit.ly/2niweJB)
The dovish BoE member said that if "pass-through of exchange
rate to inflation" is faster than the BoE's estimate, it would
mean that inflation may go higher to 3 percent or 3.5 percent.
Vlieghe, however, also said that it meant inflation "might
come down faster afterwards" as it is not obvious what the
impact for the monetary policy will be or whether it will have
any impact at all.
(Reporting by Kanishka Singh in Bengaluru; Editing by Bill