{"id":118410,"date":"2021-07-19T14:14:42","date_gmt":"2021-07-19T14:14:42","guid":{"rendered":"https:\/\/fin2me.com\/?p=118410"},"modified":"2021-07-19T14:14:42","modified_gmt":"2021-07-19T14:14:42","slug":"boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future\/","title":{"rendered":"BoE's Haskel sees no need to curb stimulus in foreseeable future"},"content":{"rendered":"
Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released by HM Treasury in London, Britain, May 31, 2018. Jason Alden\/UK Treasury\/Handout via REUTERS\/Files<\/figcaption>

LONDON (Reuters) – Bank of England interest-rate setter Jonathan Haskel said reducing stimulus was not the right option for the foreseeable future, despite rising inflation, distancing himself from two colleagues who last week said tighter policy might be needed.<\/p>\n

\u201cIn the immediate term, the risk of a pre-emptive monetary tightening curtailing the recovery continues to outweigh the risk of a temporary period of above-target inflation,\u201d Haskel, a member of the BoE\u2019s Monetary Policy Committee, said in a speech during an event organised by the University of Liverpool.<\/p>\n

\u201cFor the foreseeable future, in my view, tight policy isn\u2019t the right policy.\u201d<\/p>\n

The value of sterling slipped after Haskel\u2019s comments and British government bond prices rose to a day\u2019s high.<\/p>\n

Last week, two other MPC members said the time might be nearing for the BoE to rein in the huge stimulus programme it deployed last year to steer the British economy through the coronavirus pandemic.<\/p>\n

Haskel said inflation was likely to exceed 3% by the end of the year – well above the BoE\u2019s 2% target – but that this would probably be fleeting due to the effect of a one-off rise in energy prices and comparing prices now with the deep economic slump of 2020.<\/p>\n

\u201cThese pressures and erratic data readings should be temporary and therefore could be looked through,\u201d he said.<\/p>\n

\u201cIn addition, the economy is fully not recovered yet and faces two headwinds over the coming months: the highly transmissible Delta variant and a tightening of the fiscal stance,\u201d he added.<\/p>\n

In the longer term, the \u201cimmense support\u201d for the economy – including a surge in public spending and tax cuts by the government, as well as the BoE\u2019s stimulus – looked like it might have averted major damage to output, Haskel said.<\/p>\n

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Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released […]<\/p>\n","protected":false},"author":3,"featured_media":118409,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBoE's Haskel sees no need to curb stimulus in foreseeable future - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoE's Haskel sees no need to curb stimulus in foreseeable future - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-19T14:14:42+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/BoEs-Haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future\/\",\"url\":\"https:\/\/fin2me.com\/markets\/boes-haskel-sees-no-need-to-curb-stimulus-in-foreseeable-future\/\",\"name\":\"BoE's Haskel sees no need to curb stimulus in foreseeable future - 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