Bank's new MPC member: a dovish hawk with a City pedigree

Michael Saunders believes that even a referendum vote to quit the EU would not alter his view that interest rates are on an upward path

Michael Saunders has a reputation as a hawk, who in recent years believed the economy to be in rude health and in need of higher interest rates to suppress inflationary pressures.

Last year he argued that the Bank of England's outlook for growth and inflation was overly gloomy and interest rate rises would arrive sooner than the monetary policy committee (MPC) forecast. The year before he said much the same.

Related: Bank of England appoints Michael Saunders to MPC