BoE’s Greene: Slack opened up in the labour market and the economy

November 27, 2025
-FXnews

I expect slack to increase
It’s encouraging that services inflation is coming down
Evidence on wage growth is also encouraging
BoE projection is benign
Inflation has stabilised
My concern is around second-round effects
Business inflation expectations are elevated and rising
Preliminary results from BoE agents’ survey point to pay settlements of around 3.5%, maybe due to upward shift in wage-setting

These are some dovish comments from Greene who has been one of the most hawkish BoE members for quite some time. Her concern remains the second-round effects around inflation but it feels like she toned down a bit her hawkishness

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