Free Trial

Dhingra doesn't find "target-consistent" language useful

BOE
  • Dhingra asked about whether service inflation could be 4% with goods at 0% - or will service inflation have to be lower?
  • She doesn't find "target-consistent" language useful. E.g. She doesn't agree wage growth must be X% for target - it depends on productivity. She says it depends on a geopolitical events etc so it's hard to really know where "target-consistent" rates end up.
  • Note that Mann said recently that she was concerned that goods inflation wouldn't go back to 0% - and therefore services inflation may need to be below the 3.5% we saw pre-covid to get inflation back to zero.

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.