Oil price price impact should fade within a year – BOE’s Cunliffe

FXStreet (Mumbai) - The Bank of England’s deputy governor, Sir John Cunliffe, speaking on BBC radio’s 5 live said today that the disinflationary impact of the fall in the oil prices is likely to fade within a year.

He further added that the productivity in the UK is starting to pick-up, while the economy enjoys solid growth. On the Greek issue, he said the UK is in a better position in case of a ’Grexit’, further adding that the current conditions do not justify an interest rate cut or QE.