|
BoE's Ramsden: Unusually subdued growth in wages appears to be coming to an end
Bank of England Deputy Governor Dave Ramsden has recently delivered a prepared speech with key quotes, via Reuters, found below.
- MPC's view that UK economic slowdown in early 2018 was temporary appears to have been borne out by recent data.
- UK GDP growth to resume at steady but unspectacular pace, conditional on smooth transition to eventual post-Brexit arrangement.
- Even subdued pace of growth is enough to exceed lower economic speed limit of around 1.5 pct.
- Our view of outlook and prescription for monetary policy remains conditional on data.
- Optimistic about technology leading to productivity gains and potentially higher, non-inflationary, wage growth.
- Backed MPC view in may that ongoing tightening of monetary policy appropriate if economy develops as expected.
- Inflation persistently above target and sustained period of excess demand would represent a failure to meet our remit.
- The period of unusually subdued growth in wages appears to be coming to an end.
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.
More from Eren Sengezer
