Bank of England Monetary Policy Committee member Silvana Tenreyro stated on Wednesday, during her address to the Treasury Select Committee, that a more gradual pace of interest rate tightening will help avoid the "risk of overshooting."
Tenreyro cautioned that the central bank "should be going slowly when there is a lot of uncertainty." She added that "short-term inflation expectations have very little predictive power" and that the impact of BoE's tightening is "yet to be seen."
Nevertheless, Tenreyro underscored she will be considering "further rate rises until we have clear evidence of impact on inflation."
