BoE's Haldane: UK inflation to be nearer 4% than 3% by end of year
|In a prepared speech delivered on Wednesday, Bank of England Chief Economist Andy Haldane noted that he expects inflation in the UK to be nearer to 4% than 3% by the end of the year.
Additional takeaways
"Avoiding that inflation surprise is one of the central tasks of central banks."
"Near-term inflation concerns also have a bearing on the medium-term risks facing central banks."
"Entering fast and large, and exiting slow and small, puts a ratchet into central bank balance sheets."
"This is the most dangerous moment inflation-targeting has so far faced."
"In my view, it does call for immediate thought, and action, on unwinding the QE currently being provided, given the state of the economy and central banks’ balance sheets."
Market reaction
The GBP/USD pair edged higher on these comments and was last seen gaining 0.23% on a daily basis at 1.3868.
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