(Repeats for additional subscribers)
June 17 One of the Bank of England's most dovish
policymakers, David Miles, has said that he expects to vote for
a hike in interest rates by May, The Times of London reported on
Miles, who is currently in his second term as a member of
the Monetary Policy Committee, signaled that he would vote for
an increase before his term ends in 11 months' time, the British
newspaper reported. (link.reuters.com/cyp22w)
Miles also hinted that the minutes of this month's
rate-setting meeting could show that the committee - which sets
interest rates - was moving closer to ending five years of
policy with rates at a record low 0.5 percent.
Miles - who has never voted to change interest rates in his
time as member of the MPC - said the speed of the recovery had
forced a change of mind. "Consistently, growth has come in
stronger [than expected]," the newspaper quoted him as saying.
Bank of England Governor Mark Carney signaled last week that
Britain could become the first major economy to tighten monetary
policy since the 2008 financial crisis. Carney had said that the
hike "... could happen sooner than markets currently expect."
(Reporting by Tasim Zahid in Bangalore; Editing by Eric Walsh)