BoE's Mann: Omicron raises particular question marks over consumer confidence
|Bank of England Monetary Policy Committee member Catherine Mann said on Tuesday that the newly discovered Omicron variant raises particular question marks over consumer confidence and may alter the rotation to service spending from spending on goods, according to Reuters. Omicron could leave us in a situation where there is more slack demand for consumer services, she added. Mann did not directly comment on how the Omicron variant impacts the outlook for gradual, expected BoE monetary tightening in the coming months/years.
On inflation expectations, Mann added that the bank remains confident that inflation expectations remain well-anchored.
Market Reaction
GBP has not seen any reaction to the comments, which did not tough on BoE monetary policy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.