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7 December 2021 - MPC member sees inflation at over 5%
Deputy Bank of England Governor Ben Broadbent spoke yesterday of his belief that inflation in the UK will reach 5% by the end of the first quarter of next year.
He sees a tightening of the UK labour market as the main cause of the rise. Echoing the thoughts of several FOMC members, Broadbent commented that the bank will need to be agile in its treatment of growth and inflation and be prepared to act at every meeting.
A survey conducted by the Financial Times and published yesterday concluded that the majority of economists and traders do not consider a rate hike to be the outcome of next week’s MPC meeting.
More time needs to be taken to evaluate the risks to the economy of the new Coronavirus Variant.
Indeed, Broadbent spoke yesterday of his uncertainty about how to vote at the meeting for this reason.
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
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Deputy Bank of England Governor Ben Broadbent spoke yesterday of his belief that inflation in the UK will reach 5% by the end of the first quarter of next year.
He sees a tightening of the UK labour market as the main cause of the rise. Echoing the thoughts of several FOMC members, Broadbent commented that the bank will need to be agile in its treatment of growth and inflation and be prepared to act at every meeting.
A survey conducted by the Financial Times and published yesterday concluded that the majority of economists and traders do not consider a rate hike to be the outcome of next week’s MPC meeting.
More time needs to be taken to evaluate the risks to the economy of the new Coronavirus Variant.
Indeed, Broadbent spoke yesterday of his uncertainty about how to vote at the meeting for this reason.
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.