MNI BRIEF: BOE May Need To Be Restrictive For Longer - Greene

The Bank of England might have to keep monetary policy restrictive for a longer period rather than enter a period of cut-hike-cut should inflation persistence became more entrenched, Monetary Policy Committee member Megan Greene said on Monday.

Speaking at a conference in London, Greene said it would be better for the central bank to keep a consistent policy stance to preserve its own credibility.

Her argument for potentially keeping rates higher for longer echoed the views of her fellow MPC member Catherine Mann in a speech last week. (See MNI BRIEF: BOE Must Signal Consistency, Not Hike Rates - Mann)