LONDON The Bank of England may need to revise up its growth forecasts after double-counting some of the costs of economic uncertainty linked to the country's Brexit vote, policymaker Kristin Forbes said in an interview published on Thursday.
"We may be over-counting the effects," Forbes was quoted as saying by Bloomberg News. "I've worried a bit in our forecast that we control for many of the measures that simultaneously control for uncertainty, and then we put in uncertainty effects, so we're putting them in twice," she added.
Last week the BoE said it expected the economy to slow less rapidly in the three months to September than it had previously estimated, but most of its policymakers were still likely to back a rate cut later this year. Earlier on Thursday, Forbes said she did not see a case for a further rate cut.
(Reporting by David Milliken; editing by William Schomberg)