BoE's McCafferty: BoE shouldn't dally over next rate hike

The Bank of England (BoE) policymaker Ian McCafferty, in a Reuters interview this Tuesday, was noted saying that the UK central bank should not delay raising interest rates again, pointing to the possibility of faster pay rises and the recent strong pick-up in the world economy.

Key quotes:

   •  Sees no labor market slack, modest upside risk to BOE's February wage growth forecasts
   •  Unclear if import price inflation will fade as fast as BOE forecasts
   •  Brexit uncertainty will be a permanent feature of UK economic landscape
   •  Any numerical guidance on UK interest rate outlook would be too open to misinterpretation and error
   •  Brexit uncertainty is hampering longer-term investment, but not shorter-term projects or exports