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The recent moderation in GDP growth will continue during the winter months – Silvana Tenreyro

Bank of England (BOE) policymaker Silvana Tenreyro, noted on Monday that the recent moderation in gross domestic product growth appears to continue through the winter months, as reported Reuters.

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“The uncertainty about the effects of the licensing regime should be resolved in the coming months, which should help paint a clearer picture of the job market.”

“We will also continue to learn more about the persistence of national and international supply chain disruptions and their impact on the UK inflation outlook.”

“There is a possibility that higher inflation or higher inflation expectations will start to translate into higher wage demands.”

“There is also the risk that the end of the licensing regime will lead to a relaxation of the labor market and a moderation of wage pressures.”

Market reaction

The pair GBP/USD it continues to move sideways around 1.3750 following these comments.

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