LONDON, May 17 (Reuters) - Sharp economic growth in Britain
this year should not be confused with a boom, given the amount
of ground lost last year during the coronavirus pandemic, Bank
of England policymaker Gertjan Vlieghe said on Monday.
Vlieghe reiterated BoE forecasts that inflation was likely
to exceed its 2% target later this year, due to temporary
bottlenecks and base effects, but stressed the BoE would look to
the medium term when setting interest rates.
"The fact that we're going to have, or we're likely to have,
temporarily high growth rates and temporarily high inflation in
the coming months, is not the main concern of monetary policy,"
Vlieghe said at an event hosted by King's College London's Qatar
Centre for Global Banking and Finance.
(Reporting by David Milliken, editing by Andy Bruce)