Reuters: US Dollar Report: Bank of England's McCafferty says is "cautiously optimistic"

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Bank of England's McCafferty says is "cautiously optimistic" Apr 29th 2013, 07:43 LONDON, April 29 | Mon Apr 29, 2013 3:43am EDT LONDON, April 29 (Reuters) - Bank of England policymaker Ian McCafferty said that he was "cautiously optimistic" about Britain's economy, though recovery would continue to be difficult. "I see grounds for hope. Some of the forces that have held back recovery are easing. Supportive policies from the Bank of England are having an effect. Confidence is creeping up," he wrote in a column for Monday's edition of the Daily Mail. The BoE's Monetary Policy Committee, on which McCafferty serves, will meet next week to consider a quarterly economic forecast update and whether to restart the central bank's asset purchase policy. McCafferty has opposed this, and said in Monday's article that he was "struck by the improvement in confidence" in recent months, though he added that domestic inflation pressures remained subdued.

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