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Haldane warns of CB complacency on inflation

BOE
  • Haldane has been the most hawkish MPC member for some time, but that last sentence (highlighted with our bolding) is another step in that direction
  • "My judgement is that we might see a sharper and more sustained rise in UK inflation than expected, potentially overshooting its target for a more sustained period, as resurgent demand bumps up against constrained supply."
  • "For me, there is a tangible risk inflation proves more difficult to tame, requiring monetary policymakers to act more assertively than is currently priced into financial markets. People are right to caution about the risks of central banks acting too conservatively by tightening policy prematurely. But, for me, the greater risk at present is of central bank complacency allowing the inflationary (big) cat out of the bag."
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