BOE’s Cunliffe: Want to see how exports and consumer slowdown plays out

In an interview with BBC Radio 5 on Wednesday, BOE Deputy Governor Cunliffe takes note of the impact of a weaker pound on the central bank’s inflation outlook.

Key Points:

Domestic inflation pressure data gives us more time to see how it evolves

Lesson from last few years is that UK economy hasn't generated much inflation pressure

Want to see how exports and consumer slowdown plays out

BOE bank rate is very small part of bank lending rates

Lending standards should not be affected by BOE interest rates

Time to remind people of pockets of risk