BoE's Ramsden: Unusually subdued growth in wages appears to be coming to an end
|Bank of England Deputy Governor Dave Ramsden has recently delivered a prepared speech with key quotes, via Reuters, found below.
- MPC's view that UK economic slowdown in early 2018 was temporary appears to have been borne out by recent data.
- UK GDP growth to resume at steady but unspectacular pace, conditional on smooth transition to eventual post-Brexit arrangement.
- Even subdued pace of growth is enough to exceed lower economic speed limit of around 1.5 pct.
- Our view of outlook and prescription for monetary policy remains conditional on data.
- Optimistic about technology leading to productivity gains and potentially higher, non-inflationary, wage growth.
- Backed MPC view in may that ongoing tightening of monetary policy appropriate if economy develops as expected.
- Inflation persistently above target and sustained period of excess demand would represent a failure to meet our remit.
- The period of unusually subdued growth in wages appears to be coming to an end.
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