in a discussion with CBNC earlier today Friday!, Bank of England senior Economist HUW.P uttered, locally generated inflation pressures is likely to be extra persevering, when asked about exter hike to come I anticipate Huw responded
KEY NOTE
in other to ensure dependability of our inflation goal, we think the has come to take a step
"We said in November that we were steering towards a rate increase because of tight labor market."
"Data we have seen has confirmed that labor market is tighter than we expected in November."
"Omicron has introduced new level of uncertainty."
"We need to move forward cautiously."
"We need to see if omicron leads to some reversal of labor market strength."
"We do see evidence of slowdown notably in consumer-facing sector."
"Omicron may weigh on activity in short term but we must be cautious about assuming it will be disinflationary over the medium term."
"Domestically generated inflation pressures must be contained."
"I am very uncomfortable about headline inflation prints but we must look at
Market view
The GBP/USD pair showed no immediate reaction to these remarks and was last seen trading flat on the day near 1.3320.
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