(Bloomberg) -- Bank of England policy maker Gertjan Vlieghe said he will vote for an interest rate cut this month if there are no signs of economic improvement after the general election, the Financial Times reported.
Data to be published later this month will provide more clarity as to “how people are responding” after the U.K polls, he was cited as saying in an interview with the paper. The BOE’s next rate decision is on Jan. 30.
“I really need to see an imminent and significant improvement in the U.K. data to justify waiting a little bit longer,” Vlieghe told the FT. He said his vote to lower rates from 0.75% to 0.5% would depend on data including business and household surveys that will be released.
Vlieghe’s comments echo those of Governor Mark Carney and fellow policy maker Silvana Tenreyro, who both expressed possible support for a cut given sluggish global growth and uncertainty surrounding Brexit.
BOE Rate Cut Prospects Rise After Carney, Tenreyro Comments