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This is not the right time to adjust interest rates, Bank of England Deputy Governor Jon Cunliffe told BBC radio.
Cunliffe said he would wish to see how inflation evolves. He added that inflation above the 2 percent target is "not a comfortable place".
Further, Cunliffe said he wanted to see whether business investment and exports could compensate for a consumer slowdown.
Last week, BoE chief economist Andrew Haldane said he is set to favor a rate hike.
Kristin Forbes, Ian McCafferty and Michael Saunders sought a quarter point rate hike at the June meeting. They said partial withdrawal of stimulus will help to moderate inflation overshoot.
