BOE policymakers play down China risk, sound upbeat on inflation

FXStreet (Mumbai) - The Bank of England policymakers (BOE) McCafferty, Forbes, and Weale, in their testimony to the Parliamentary Committee in London, played down the China risk to the UK economy and sounded upbeat in the domestic inflation.

Meanwhile, governor Carney added that, “Interest Rates Will Need Increase In The ‘Not-Too-Distant Future’ To Ensure Infl Doesn’t Overshoot Target.”

Quotes on inflation

McCafferty: Upside inflation risks have increased

Forbes: UK inflation soon to begin journey back towards target, Low UK inflation is unlikely to last

Quotes on China

McCafferty: Sees limited impact from the China turmoil on UK

Weale: China is a risk, not having a clear downside forecast