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- BOE’s Cunliffe: Central bank won't let high inflation get embedded
BOE’s Cunliffe: Central bank won't let high inflation get embedded
Bank of England (BOE) will see to it that the recent surge in inflation does not get entrenched in the economy, the central bank Deputy Governor Jon Cunliffe said in an interview with BBC radio on Wednesday.
Key quotes
"It's our job to make sure that as this inflationary shock passes through the economy we don't find that leaves with inflation being the new normal, the sort of embedded psychology.”
"We will act to make sure that doesn't happen."
“We can see signs that the economy is already slowing.”
Market reaction
Amidst intensifying UK political tensions, GBP/USD has resumed its downtrend towards 1.1900. The spot is currently trading at 1.1924, down 0.26% on the day.
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