BOE’s Vlieghe, a dovish member, plays down rate hike talk

A report in the UK Times says BOE’s dovish member Vlieghe does not see believe rates would automatically have to rise in response to higher inflation.

Key points

Rise in inflation won’t make him consider raising interest rates

Much of the inflationary pressure is the result of Sterling’s devaluation

Inflation could head towards 3% by the year end before starting to fall