Following the Bank of England (BoE) decision leaving the policy rate and the Asset Purchase Facility unchanged at 0.1% and £ 895bn respectively, BoE Governor Andrew Bailey is providing his comments on the policy outlook.
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“Remarkably little headlines on UK economic activity since May.”
“We don’t see an increase in unemployment when the leave ends.”
“The number of unemployed people will be approximately 250,000 higher than before the pandemic.”
“Growing evidence of job vacancies and tight labor market”.
“The underlying wage growth is close to pre-COVID levels.”
“Inflation is caused by higher costs of goods, and supply bottlenecks.”
“The recovery is lopsided, weighted toward goods, not services.”
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