BoE's Vlieghe: Premature rate hike would be more serious mistake than one that turns out to be late

Bank of England rate-setter Gertjan Vlieghe crossed the wires, via Reuters, stating that a premature rate hike would be a more serious mistake than one that turns out to be late.

Key quotes (via Reuters)

• Cautious strategy on interest rates warranted
• Consumer slowdown appears to be underway and likely to intensify, but will be alert to signs of re-acceleration
• Households are now responding to change in real income growth
• Inflation rise seems entirely accounted for by exchange rate pass-through that will ultimately fade if inflation expectations remain well anchored
• Wages and inflation expectations point to slack in economy, subdued underlying inflation pressure
• Households are now responding to slower real income growth