The Chief Economist of the Bank of England, Huw Pilland the head of economic policy, Jonathan Haskeltestify before the UK Treasury Select Committee alongside the Governor Andrew Bailey.
Bailey Highlight Statements
“We expect inflation to come down quickly this year“.
“We have a very tight job market.”
“The current high inflation reflects a very high level of first-round effects, not second-round effects.”
“Base effects will print a powerful negative trajectory for UK inflation this year.”
“We are concerned about the persistence of inflation, which is why I voted to raise rates.”
market reaction
The British pound remains strong after these comments. At the time of writing, GBP/USD is trading at 1.2136, with a daily gain of 0.55%.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
