Free Trial

Bailey still looking at services CPI, wage growth and quantity of labour

BOE

Bailey was asked how they can judge when inflation will be sustainable at target.

  • He said we will be close to target in a couple of months but with a very imbalanced profile - with services inflation likely still around 6% but energy and non-core components in deflation.
  • On services, there is a big labour component here - what's going on on the wage side? That's again coming down as well - expect it to come down as inflation comes down.
  • On the quantity side of the labour market - it looks like there is some loosening of the labour market.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.