BoE's Pill: Current momentum in economic activity may be slightly stronger than anticipated

Eren Sengezer FXStreet

"Survey indicators that have become available since the publication of the forecast have surprised to the upside, suggesting that the current momentum in economic activity may be slightly stronger than anticipated," Bank of England Chief Economist Huw Pill said on Thursday, per Reuters.

Pill further noted that some high-frequency indicators of wages have fallen quite sharply recently but acknowledged that the latest data for private sector regular pay growth surprised slightly to the upside.

Market reaction

These comments failed to help Pound Sterling find demand. As of writing, GBP/USD was down 0.9% on the day at 1.1925.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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