BOE’s McCafferty: Support the reduction of BOE equilibrium on unemployment

Dhwani Mehta FXStreet

The Bank of England (BOE) policymaker Ian McCafferty also crossed the wires now, throwing fresh light on the UK labour market.

Key Headlines via Reuters:

Supports the reduction of BOE equilibrium on unemployment but is unsure about the size of reduction

Would prefer a reduction to 4.75% rather than 4.5%

Skills shortages & level of vacancies suggest we are closer to full employment than weak wage growth suggests

Some members of MPC thought equilibrium unemployment rate could be below 4.5%, others thought it could be 4.5%-4.75%

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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