MPC member David Ramsden
- Brexit uncertainty seems to be increasing
- UK economy to be in weaker growth period for some time
- UK demand has slowed since Brexit vote
- Domestic CPI below rate consistent with 2% goal
Dovish words from probably the biggest dove on the MPC.
This was his first public speech since he joined the MPC in September but he had spoke to parliament. He warned that the economy will struggle for years.
He was one of two votes against a rate hike earlier this month, along with Jon Cunliffe.
Quotable:
"I consider what we are witnessing as more of a saucer-shape slowdown and pretty unusual for that," he said in a speech in London on Monday. "Given the long horizon over which the effects of Brexit could play out, we are likely to be on the flat part of the saucer for some time."
