Bank of England (BoE) Deputy Governor Ben Broadbent said Tuesday that the coronavirus pandemic has depressed inflation slightly less than they anticipated when it started, as reported by Reuters.
Additional comments:
“Huge increase in public debt protected household income of the fall in national income observed in the first half of last year “.
“Today’s consumer spending has been in part supported and funded by tomorrow’s taxpayers“.
“Spending on consumer services has been extremely weak“.
“Reducing these activities does not necessarily mean a similar decrease in total consumption.”
“The consequences of consumption due to COVID due to cost pressures in the medium term and, therefore, for monetary policy, they are probably limited“.
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