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Broadbent Starting to See Real Income Growth in Course of 2023

BOE

Q: What do you say to people who are struggling to make ends meet?

  • A: Very conscious that inflation hits the less well off, particularly this time with food and enery the big rises. There has been a hit to national income of these shocks - have to deal with that. Don't think Pill's words were the right choice - but can't duck this hit to national income and the risk this leads to second round effects.
  • Broadbent: Some relief in growth rates seen in this forecast through. Are beginning to see real income growth in the course of this year.

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