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BoE unlikely to tame inflation and recession without hurting GBP – Commerzbank

The British pound suffered a severe setback yesterday. Commerzbank economists They expect the pound to continue to struggle for the time being.

The BoE is torn between the Scylla of inflation and the Charybdis of recession

“The UK Office for National Statistics announced that the government deficit in December was higher than expected. Budget data is rightly a negative for GBP. Because against it, the actual economic data is under much stronger scrutiny.”

For none of the economic areas for which our economists make projections are the prospects as pessimistic as for the UK. In this context, it seems logical to assume that the BoE faced a particularly difficult choice. between the Scylla of inflation and the Charybdis of recession. It’s hard to imagine British central bankers dominating these doings without hurting the GBP.“.

Source: Fx Street

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