BOE’s Broadbent: We may need a couple more rate rises to get inflation back on track

BOE Deputy Governor Dr. Ben Broadbent crossed the wires last hour, via Reuters, speaking to the BBC Radio 4.

Key Headlines:

"This is a moderate rate rise.

There will be some pain from the rate hike.

UK spare capacity has been diminishing.

Case for tolerating above-target inflation has become less and less.

Investment has been weaker, consumption has been affected since Brexit vote.

Anticipate we may need a couple more rate rises to get inflation back on track.