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Bailey said decided to wait at least 6 weeks for more labour market data

BOE
  • Bailey said he's very uneasy about growth in the economy and the growth has started to flatten out. He's also just said the labour market looks tight. But the real puzzle is what happens at the end of the furlough scheme and we have little official data to go on. The anecdotal evidence suggests no real rise to unemployment, but we don't really know. He says the big question for me is will there be real pressure on wage expectations and wage negotiations and inflation expectations. He says, do we wait at least 6 weeks when we have more data or do we act now? Decided to wait for more labour market data.
  • So that sounds very much as though December is in play.

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