BOE's Tenreyro: We should be going slowly when there is a lot of uncertainty

• Even without rate hike in August, rates were sufficient to return inflation to target
• I saw a case for tightening until there was clear data that we had done enough
• There is a risk that very high headline inflation could feed wage-price dynamics
• A more gradual pace of tightening reduces risk of overshooting
• We should be going slowly when there is a lot of uncertainty
• I will consider further rate hikes until we have clear evidence of impact on inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term

If you must note, she was a dissenter in last month's policy decision in the sense that she voted for a 25 bps rate hike instead of the majority vote for a 50 bps rate hike at the time. So, she's very much just justifying her decision but it will be interesting to see if other policymakers will share the same view in the months ahead.