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- BoE’s Greene: We might need to stay restrictive for longer
BoE’s Greene: We might need to stay restrictive for longer
Bank of England's Monetary Policy Committee (MPC) member, Greene, shared insights into the UK's economic situation and the central bank's policy stance in a recent interview with Bloomberg TV on Thursday.
Key quotes
Latest inflation data is good news.
UK labour market data positive.
UK wage growth is still incredibly high.
Reasons to worry about persistence of inflation.
I will need to see how UK activity is holding up before my next rate vote.
Low productivity and high wage growth will make it hard to hit inflation target.
Question is whether boe policy is restrictive enough.
We might need to stay restrictive for longer.
Markets globally haven't really clocked on to how long central banks will need to stay restrictive.
I am not thinking about cuts.
We are not really seeing stronger productivity growth come through.
Market reaction
At the time of writing, GBP/USD is trading at 1.2400, down 0.14% on the day.
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