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BoE’s Mann: Forward-looking price, wage indicators raise risk of inflation persistence.

November 19, 2024 by admin 0 Comments

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Bank of England (BoE) policymaker Catherine Mann testifies on the November Monetary Policy Report (MPR) before the UK Parliament’s Treasury Select Committee (TSC) on Tuesday.

Key quotes

Forward-looking price and wage indicators have been flat and above target for 4 months, raising the risk of inflation persistence.

Financial markets’ inflation expectations suggest boe will not get to sustainable 2% inflation in forecast horizon.

Latest budget offers opportunity for firms to realise price increases that are inconsistent with 2% inflation target.

Higher minimum wage was causing firms problems in maintaining wage differentials.

developing story ….

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