BOE’s Mccafferty: waiting too long to hike creates bigger shock

Below are some of the key highlight from external BOE MPC Member Ian McCafferty's scheduled speech about monetary policy at the Official Monetary and Financial Institutions Forum, in London.

   •  BOE shouldn't dally on interest rate increase.
   •  Waiting too long to hike creates a bigger shock.
   •  BOE should head off criticism of QE.
   •  Public distrust of QE, if unaddressed, could limit BOE's scope for policy action.
   •  Likely that recent downtrend in inflation will slow over the course of the year.