Free Trial

BOE: Pill Audience Q&A Concludes - But Provides Little New on Current MonPol

BOE
  • Third Q on data quality. Pill says BoE is reliant on data for evidence-based policy-making, and Bank has work to do here.
    Fourth (and final) Q on productivity problems in the UK. Pill says some evidence shows impacts from Brexit have delayed investment, and delays can turn permanent, while total factor productivity has remained weak in the UK. Following the pandemic, firms have found it difficult to put the right skills in the right roles, while higher gas prices also play a part.
  • In their forecasts, assumption is that one-off factors (pandemic, gas prices, Brexit etc) are passing through system, so expects productivity rates to pick up. But remains caution given assumption of favourable global tailwind. 
114 words

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.
  • Third Q on data quality. Pill says BoE is reliant on data for evidence-based policy-making, and Bank has work to do here.
    Fourth (and final) Q on productivity problems in the UK. Pill says some evidence shows impacts from Brexit have delayed investment, and delays can turn permanent, while total factor productivity has remained weak in the UK. Following the pandemic, firms have found it difficult to put the right skills in the right roles, while higher gas prices also play a part.
  • In their forecasts, assumption is that one-off factors (pandemic, gas prices, Brexit etc) are passing through system, so expects productivity rates to pick up. But remains caution given assumption of favourable global tailwind.