BoE’s Pill: Inflation is expected to fall rapidly in the 2nd half of 2023.

Bank of England (BoE) Chief Economist Huw Pill said on Wednesday that “inflation is expected to fall rapidly in the second half of 2023.”
Further comments
“Demand is easing as household incomes are squeezed.”
“UK labor market remains very tight.”
“Wage growth is not consistent with 2% inflation goal.”
“Supply chain problems seem to be improving.”
“Much of the fiscal tightening starts beyond the BoE horizon.”
Market reaction
GBP/USD is unperturbed by these comments, consolidating gains at around 1.1970, up 0.14% on the day.
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.

















