Megan Greene, member of the Monetary Policy Committee (MPC) of the Bank of Englandshared his opinion on the United Kingdom’s economic situation and central bank policy in a recent interview with Bloomberg TV on Thursday.
The latest inflation data is good news.
The British labor market data is positive.
Wage growth in the UK remains incredibly high.
There are reasons to worry about the persistence of inflation.
I’ll have to see how business holds up in the UK before my next vote on rates.
Low productivity and high wage growth will make it difficult to achieve the inflation target.
The question is whether the BoE’s policy is sufficiently restrictive.
We may have to remain restrictive for longer.
Markets around the world have not realized how long central banks will have to remain restrictive.
I’m not thinking about rate cuts.
We are not seeing greater productivity growth.
At the time of writing, the GBP/USD pair is trading above 1.2400, down 0.14% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.