BoE's Mann: We need to see sustained slower service inflation
|
Bank of England (BoE) Monetary Policy Committee member Catherine Mann noted on Wednesday that overall progress on inflation has been "touch-and-go", and warned of a potential rebound in headline inflation figures.
Key highlights
The supply side of the economy is growing very slowly, I still see labour market tightness.
Wage growth is still far away from being constistent with the inflation target.
We need to see sustained slower service inflation.
Until I see some deceleration in services prices, I'm not in a position to cut.
The 2% inflation we see now is a touch and go, it will be above 2% for the rest of the year, that matters for my decision making.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.