New BOE Official Haskel Sees Risks in Hiking Rates Too Fast
- Pound declines as Haskel speaks before lawmakers in Parliament
- Comments contrast with speech by his predecessor McCafferty
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Jonathan Haskel, who joins the Bank of England’s Monetary Policy Committee in September, said he agrees with the central bank’s “broad direction” on interest rates but noted that there are risks in moving too fast with tightening.
The pound fell as Haskel made the comments in written testimony to lawmakers as part of his confirmation hearing on Tuesday. BOE policy makers have said that interest rates will need to rise at a limited and gradual pace if the economy evolves as they expect.