Ex-BOE’s Gieve backs the case for a rate hike today

Former Deputy Governor of financial stability on the Bank of England (BOE), Sir John Gieve, crossed the wires last hours, via Reuters, advocating a rate hike as early as at today’s policy meeting.

Key Headlines:

BOE needs to reverse the stimulus enacted after Brexit vote.

Economic slump that was predicted at time of cut did not occur.

He acknowledges slower growth on the back of economic uncertainty but said it's no reason to keep rate so low to pump up demand.