Bank of England's Tenreyro: BoE can delay rate increases and still hit target

Bank of England's Tenreyro has crossed the wires saying, "a few rate rises will be needed, but timing is an "open question".

Further quotes, (source Reuters):

• Tenreyro says she expects a gradual tightening of monetary policy will be needed over next three years.
• Tenreyro says a few rate rises will be needed, but timing is an open question.
• Much of weakness in UK economy in q1 likely to be erratic but raises the possibility of some underlying weakness in demand.
• Likely that exchange-rate pass-through effect on cpi will fade slightly more quickly than we expected.
• Tightening of UK labour market likely to lead to pick up in domestic cost pressures.
• Future changes in policy can act as substitutes for immediate change.
• Recent political uncertainties in Europe mean Bank of England must remain watchful about the Global economy.
• Costs of waiting a short period for more information are small, a clearer picture of domestic demand likely quite soon.

About Silvana Tenreyro 

Silvana Tenreyro was appointed to a 3-year term on the Bank of England Monetary Policy Committee from July 2017. She has been a professor of economics at the London School of Economics.