Miles wants loose monetary policy

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The Independent Online

Weak economic growth and subsiding price pressures suggest Britain's central bank should run an extremely loose monetary policy, the Bank of England policymaker David Miles said.

"It makes sense for us to assess where the trajectory of inflation is likely to be... and to set monetary policy in a way consistent with inflation moving back to target but also to support growth," he said.

"That implies having a very, very expansionary monetary policy."