BoE: The labor market is what worries us
Tradehay.com: 17/12/2021 - 07:41
Key takeaways from yesterday's BoE meeting:
-BoE believes that Omicron will probably be well under control, and the number of infections is expected to decrease in the first quarter of next year.
-Inflation is forecast to peak at 6% in April 2022.
-Need to increase Bank interest rate to bring CPI back to 2% target
The BoE assesses the labor market as the main reason for inflation, and emphasizes that it is necessary to monitor the sensitivity of the GBP to the labor market. If wages rise, and costs rise, then inflation will rise, and the BoE won't let that happen.
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