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Bank of England Recent Policy Comments and Decisions

July 31 (Bloomberg) -- The following is a compilation of policy statements and decisions from the Bank of England’s Monetary Policy Committee and Deputy Governors.

July 31 -- Ben Broadbent. Deputy Governor VENUE: Interview with Bloomberg News

“There is a reason, because of debt, to tread a little more carefully, and one of the reasons for expecting a gentler path is precisely because of the uncertainties you’ve been talking about, but you should not skew that into a line that says therefore any rate rise is impossible.” Bloomberg story: {NXTW NSN N9JGC56TTDSE <GO>} Bloomberg bio page: {BBDP 3776185 <GO>} -------------------------------------------------------------------------------- July 23 -- Mark Carney. Governor VENUE: Speech in Glasgow, Scotland

“As the economy normalises, Bank Rate will need to start to rise in order to achieve the inflation target. But the MPC has no pre-set course and the timing of any increases in interest rates will be determined by the data.” Bloomberg story: {NXTW NSN N963K96JTSEE <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- July 23 -- BOE Publishes Minutes of Rate Meeting Bloomberg story: {NXTW NSN N95UHI6JIJV1 <GO>} Bloomberg table: {NXTW NSN N95P416M62HA <GO>} -------------------------------------------------------------------------------- July 15 -- Mark Carney. Governor VENUE: Testimony to the Treasury Committee in London

“We don’t know, speaking as a member of the MPC, exactly when the rate cycle is going to start,” he said. “It will be driven by the data, we do expect markets to react to that data. The only guidance the MPC is now giving is around the medium-term path of interest rates, not the timing of the first move and on asset prices.” Bloomberg story: {NXTW NSN N8R7E46JIJVJ <GO>} Bloomberg bio page: {BBDP 5647315 <GO>} -------------------------------------------------------------------------------- July 10 -- Bank of England maintains bank rate at 0.50% Bloomberg story: {NXTW NSN N8HT9B6TTDS1 <GO>} Bloomberg table: {NXTW NSN N8HT8H6LUTZK <GO>} -------------------------------------------------------------------------------- July 3 -- Jon Cunliffe. Deputy Governor VENUE: Speech in Liverpool, England

“The main risk we see arising from the housing market is the risk that house prices continue to grow strongly and faster than earnings” and this “leads to higher and more concentrated household indebtedness,” he said. “This risk is greater at a time of exceptionally low interest rates which may well mask the likely true cost of a mortgage over time.” Bloomberg story: {NXTW NSN N84UKX6TTDSC <GO>} Bloomberg bio page: {BBDP 18239442 <GO>} -------------------------------------------------------------------------------- July 3 -- Jon Cunliffe. Deputy Governor VENUE: Interview on BBC Radio 5

“It’s not the risk around house prices as such, it’s the risk that we get a sustained rise in house prices and house prices rising faster than people’s incomes and that leads to a sustained increase, a big increase, in the amount of debt in the economy.” Bloomberg story: {NXTW NSN N84F6V6JTSEI <GO>} Bloomberg bio page: {BBDP 18239442 <GO>} -------------------------------------------------------------------------------- July 2 -- Andy Haldane. Chief Economist VENUE: Event in London

The U.K. economy is “growing 3% plus, and if you believe the surveys, maybe growing a little faster than that,” he said. "Every member of the MPC thinks there’s some’’ slack in the economy. Bloomberg story: {NXTW NSN N83HOT6VDKHV <GO>} Bloomberg bio page: {BBDP 15755237 <GO>} --------------------------------------------------------------------------------

To contact the reporter on this story: Mark Evans in London at +44-20-7330-7585 or mevans8@bloomberg.net To contact the editor responsible for this story: Marco Babic at +41-44-224-4112 or mbabic@bloomberg.net

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