BoE’s Vlieghe sees policy outlook pointing to more stimulus

FILE PHOTO: Bank of England Monetary Policy Committee Member, Gertjan Vlieghe looks on during a Reuters Newsmaker event in London, Britain July 12, 2019. REUTERS/Henry Nicholls

LONDON (Reuters) – Bank of England policymaker Gertjan Vlieghe said on Tuesday that the central bank could well need to add more stimulus to the economy as risks to jobs and the economy grew in response to rising COVID cases.

“In my view, the outlook for monetary policy is skewed towards adding further stimulus,” Vlieghe said in a speech published by the BoE.

“Given that virus prevalence has been increasing again recently, it is likely to weigh more heavily on economic activity. Indeed, it appears that the downside risks to the economic outlook are starting to materialise,” he added.

Reporting by David Milliken and Andy Bruce; editing by Michael Holden

source: reuters.com