July 10, 2024 at 05:58PM
BOE’s Mann is speaking and says:
Supply side of the economy is growing very slowly
Sees labor market tightness.
Says that wage growth is still far away from being consistent with the inflation target
We have to see disciplining of service sector price growth.
On rate cuts Mann says that until I see some deceleration in services prices, I am not in a position to cut rates
2% inflation we see now is a touch and go. Inflation will be above 2% for the rest of the year
This article was written by Greg Michalowski at www.forexlive.com.
Bank of England’s Mann: 2% inflation we see now as a touch and go