BoE’s Mann: Forward-looking price, wage indicators raise risk of inflation persistence.
FXStreetNov 19, 2024 10:28 AM
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.
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