BoE’s Greene: We might need to stay restrictive for longer
Bank of England's Monetary Policy Committee (MPC) member Megan Greene shared insights into the UK's economic situation and the central bank's policy stance in a recent interview with Bloomberg TV on Thursday.
Key quotes
Latest inflation data is good news.
UK labour market data positive.
UK wage growth is still incredibly high.
Reasons to worry about persistence of inflation.
I will need to see how UK activity is holding up before my next rate vote.
Low productivity and high wage growth will make it hard to hit inflation target.
Question is whether boe policy is restrictive enough.
We might need to stay restrictive for longer.
Markets globally haven't really clocked on to how long central banks will need to stay restrictive.
I am not thinking about cuts.
We are not really seeing stronger productivity growth come through.
Market reaction
At the time of writing, GBP/USD is trading at 1.2400, down 0.14% on the day.
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.