US News

BoE's Broadbent sees little sign of inflation spike persisting


2/2

© Reuters. FILE PHOTO: Shoppers look at bread in a Sainsbury’s supermarket, amid the coronavirus disease (COVID-19) outbreak, in London, Britain January 12, 2021. REUTERS/Henry Nicholls/File Photo

2/2

LONDON (Reuters) – A current spike in consumer goods prices does not point to a longer-term persistence in inflation, and the Bank of England would do better to focus on labour market signals, BoE Deputy Governor Ben Broadbent said in a speech on Thursday.

“While we know it’s going to go further over the next few months, I’m not convinced that the current inflation in retail goods prices should in and of itself mean higher inflation 18-24 months ahead, the horizon more relevant for monetary policy,” he said.

“The outlook for aggregate demand growth still matters. And for all the usual reasons and more, the (Monetary Policy) Committee will have to pay very close attention, parsing the official data as best it can, to the numbers in the labour market,” Broadbent added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  Billionaire Richard Branson's Virgin Orbit Co. fails first rocket launch attempt





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.