LONDON (Reuters) – Bank of England Deputy Governor Dave Ramsden said it was possible that the British central bank’s conditions for starting to think about reining in its huge monetary stimulus programme might be met sooner than he previously thought.
“Based on the rapid pace of developments since we published our May forecasts and the shift in the balance of risks, I can envisage those conditions for considering tightening being met somewhat sooner than I had previously expected,” Ramsden said in the text of speech.
Official data published earlier on Wednesday showed British inflation pushed further above the BoE’s 2% target, hitting 2.5% in the 12 months to June.
(Writing by William Schomberg; Editing by Kate Holton)
