Member Of The Bank Of England: Inflation Will Continue To Rise

McCafferty, Member Bank of England Monetary Policy Committee: Inflation will continue to rise unsure whether to vote for rate hike soon.
McCafferty said rising inflation reflected rising energy prices, the impact of the GBP depreciation yet to come. McCafferty also said the economy is strong, not sure whether will vote for raising interest rates soon.

McCafferty said that after the next meeting of policy makers will get more information. Decisions are based on inflation and consumption.

McCafferty reiterated the British central bank for inflation has exceeded the limited tolerance, and once the British economy “looks strong enough,” the Bank of England will raise interest rates and the reversal of quantitative easing (QE).