BoE's Forbes sees little need for additional monetary easing

Bank of England (BoE) policy maker Kristin Forbes speaking at Imperial College, London said on Thursday that said she did not see a case for a further interest rate cut to help Britain's economy, putting her at odds with most of her fellow rate-setters.

Forbes who has emerged as one of the more hawkish members of the BoE monetary policy committee said the latest economic data suggested Britain's economy would grow faster than the central bank had forecast last month, with momentum potentially carrying through into 2017.

Her comments followed new MPC member Michael Saunders on Wednesday, who said Britain's economy is likely to grow at a reasonable pace in the coming years, slowing less than most economists anticipate as it overcomes "modest" fallout from the Brexit vote.

BoE at its September monetary policy meeting said another rate cut was still on the table this year as its outlook for the post-Brexit economy remained largely unchanged. Bank rate currently stands at an all-time record low of 0.25 per cent.