BoE's Saunders: Interest rates will need to rise further over time

Here are some of the key highlights from external BOE MPC Member Michael Saunders' speech at the Financial Intermediary and Broker Association inaugural conference, in London.

   •  I consider it likely that interest rates will need to rise further over time
   •  A modest further rise in rates would still imply a shift towards neutral
   •  But the path of monetary policy is not pre-set
   •  Expect any further tightening to be limited and gradual
   •  MPC is aiming for trade-off between return to inflation target and extent of spare capacity
   •  Incorrect to assume that “good” or “bad” Brexit news automatically implies rates must go in a particular direction