Michael Saunders, Bank of England board member, made the following statement:
- The impact of bad weather on the economy will be temporary.
- The spare capacity of UK economy has been used up.
- Wage growth is gradually picking up.
- BoE rates may need to rise faster than market expectations.
- Rates hike will be limited and gradual.
- Monetary policy responses to Brexit are not automatic.
- Exporters surveys are still pretty positive.
- Bank of England is closely watching the global trade situation.
