BOE's Hogg: would be concerned if impact of GBP depreciation led inflation doesn’t fade over next 2-years

More comments flowing in from the newly appointed BOE MPC member Hogg, as she continues with her first speech in Parliament.

Important headlines:

   •   Not seeing evidence of bubble in Gilt prices
   •   Doesn’t believe QE has created problem of overvaluation in the Gilt market
   •   QE unwinding to probably be slow 
   •   No major distinction between unwinding QE & letting it run off as Gilts mature
   •   UK equilibrium unemployment rate lower than 5%, but unsure of exact level
   •   Would have concerns if impact of sterling depreciation on inflation doesn’t decline over next 2-years