A key Bank of England policy-maker has said he may vote to cut interest rates later this month if the economy does not show improvement. The Financial Times reported Sunday that Gertjan Vlieghe, an influential member of the U.K.’s Monetary Policy Committee, said he will be willing to set looser monetary policy. “I really need to see an imminent and significant improvement in the U.K. data to justify waiting a little bit longer,” he told the FT. Last week, Bank of England Governor Mark Carney floated the idea of lower rates, describing the British economy as “sluggish.” The current rate is 0.75%, and changes are typically done at 0.25 percentage-point increments. While the panel voted 7-2 against rate cuts in December, the numbers are quickly shifting — MPC member Silvana Tenreyro on Friday also signaled openness to a cut, meaning pro-cut members may be just one vote shy of a majority. The British pound fell slightly lower late Sunday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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