David Miles is Professor of Financial Economics at Imperial College London. He served on the Bank of England's interest-rate setting Monetary Policy Committee from May 2009 to September 2015. His current research focuses on financial stability, housing, and the setting of monetary policy.

With the BoE considering whether to lift borrowing costs from the record low 0.1% in its 4 November decision, Financial News asked Miles for his views on the economic outlook, and how the panel makes its calls. The responses have been edited for clarity.