BOE’s Shafik: Seems likely that further monetary stimulus will be required "at some point"

Bank of England (BOE) Deputy Governor Minouche Shafik is on the wires now, via MNI, making her scheduled speech at Bloomberg Markets Most Influential Summit, in London.

Key Headlines:

Seems likely that further monetary stimulus will be required "at some point"

No doubt the UK is experiencing a sizeable economic shock after Brexit vote

There are signs that foreign firms are more cautious about investing in UK

UK firms beginning to make contingency plans in case they have to move some business elsewhere

Depreciation of Sterling is certainly helping the economy find a new equilibrium

Forward-looking indicators suggest slowdown may not be as sharp or as sudden as we might have feared

We will learn a lot from the arrival of more official data for the post-referendum period

Need for good balance between monetary, fiscal and structural policies and international policy co-ordination

Very aware that monetary policy has side effects, we have duty to minimize them where possible