BOE Cunnliffe: Can afford to wait until there is clear evidence of faster pay growth

Bank of England Deputy Gov.  speakingHe adds:

  • Voted against raising rates due to not immaterial risk that domestic inflation pressure will undershoot MPC forecast
  • Some historic relationships between economic variables  have gone on a longish leave of absence
  • Brexit impact uncertain, BOE can only respond to what its sees in economy now
  • Domestic inflation pressure low, sterling depreciation not causing second round effects and inflation expectations average

Comments are more dovish from the deputy governor. Article Source

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