The Deputy Governor of the Bank of England (BoE), Ben Broadbent, delivered his comments on the state of the economy and political prospects at the Treasury Select Committee hearing.
“The Unemployment risks in the UK are both ways“.
“There is clear risk of unemployment rising significantly once leave schemes end support”.
“There is no indication from the bond markets that investors see the MPC stock as more than necessary to meet the inflation target.”
“We don’t have much evidence that the UK-EU trade deal affects prices.”
“We have seen a appreciation of the pound sterling due to the EU trade deal, which would have a depressing effect on UK inflation. “
“It is difficult to know if trade frictions are having the opposite effect on inflation.”
“The The main effect on UK inflation is probably the strength of the pound sterling “.
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