Evans said the `risk management` approach of keeping rates on hold until inflation was higher was not his "modal case" or central expectation, but he said policymakers "will greatly regret" if they do not get inflation back to 2 percent.
"Would we be well served by waiting until we got inflation to 2 percent and then tighten? There would be risks. There would be risks that inflation starts rising more quickly... As I weigh those risks I don`t see them that way," he said.
"I do recognise that it`s far from our central view, it`s not even my modal viewpoint," he added.
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