BoE’s Mccafferty: likely rates will go up slightly earlier than thought

BoE’s Mccafferty is taking question live on LBC Radio until 5 GMT.

Key notes:

• BoE’s Mccafferty: UK economy holding up relatively well so likely rates will go up slightly earlier than thought in late 2017 – LBC
• BoE’s Mccafferty: it’s not all doom and gloom for UK economy - LBC
• BoE’s Mccafferty: people have got over the Brexit big shock in 2016, spending started to grow again -LBC
• BoE’s Mccafferty: BoE overestimated impact of Brexit uncertainty on people's behaviour - LBC
• BoE’s Mccafferty: growth faster than expected - LBC
• BoE’s Mccafferty: rates will have to go up gradually - LBC
• BoE’s Mccafferty: inflation running over 3%; the market is factoring in 3 rate rises of 25bps over next couple of years - LBC