Carney’s speech: Recent data support prediction for faster pay growth

The Bank of England (BOE) Governor Mark Carney is on the wires now, via Reuters, making a scheduled speech at the Whitaker Lecture, in Dublin.

Key Headlines:

Uncertainty around Brexit has had an additional dampening effect on pay growth.

Developments regarding the UK’s withdrawal from the European Union are the most significant influences on the economic outlook.

Bank of England is well-prepared for whatever path the economy takes, including a wide range of potential Brexit outcomes.

The largest UK banks can continue to meet the needs of UK households and businesses even though a disorderly Brexit, however unlikely that may be.

MPC will respond to any persistent change in the outlook to bring inflation sustainably back to 2 pct target while doing what it can to support jobs and activity.

The appropriate monetary policy response to Brexit is not automatic and will depend on the balance of the effects on demand, supply, and the exchange rate.

Recent data support prediction for faster pay growth.

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