BOE’s Vlieghe: Further rate rises are likely to be appropriate if strength continues

Additional comments from Bank of England’s Gertjan Vlieghe

A stronger world economy and labour market tightness is telling us that a further rise in rates is likely to be appropriate if the strength continues
Stresses that there is still a huge uncertainty around the rate path
Rates could go up faster or more slowly
The neutral UK interest rate is also very uncertain
Interest rate outlook depends on an uncertain economic outlook over the next few weeks
3 rate hikes still leaves some excess demand

These comment come on top of some from earlier;

If there is less credit headwind to UK economy then it may be ready for higher rates
There is increased evidence that tight labour markets are beginning to push up wages

The pound went up a touch to 1.3873 as another BOE member talks about rate hikes, even though he’s playing it pretty safe from both sides of the hawk/dove fence.