The UK Times carrying Vlieghe's comment, reported via Bloomberg
From the piece itself:
- A doveish member of the Bank of England's monetary policy committee said a rise in inflation would not make him consider raising interest rates
- Gertjan Vlieghe believes that much of the inflationary pressure is the result of sterling's devaluation and the consequent rise in prices of products such as fuel and food
- He expects inflation to head towards 3 per cent by the end of the year before starting to fall
- However, even if consumer prices rose further, Mr Vlieghe told The Times that he did not believe rates would automatically have to rise.
Times is gated, link if u have access: Inflation doesn't mean rate rise, Bank chief says
--
Gertjan Vlieghe is a member of the Bank of England's monetary policy committee