On inflation Bailey says the rise to below target 1.5% has been base effects, but there are hotspots for prices, reflecting global commodity prices, an unbalanced post covid recovery focussed on goods...
This is a “hump” that should come down, he say.
This is a “hump” that should come down, he say.
Bank of England’s Andy Haldane on inflation:
“There’s a whole list of [prices] going up at real pace.
It’s hard to find very much, goods or assets that aren’t going up right now. With the dishonourable exception of #Bitcoin”.
“There’s a whole list of [prices] going up at real pace.
It’s hard to find very much, goods or assets that aren’t going up right now. With the dishonourable exception of #Bitcoin”.
“The economy is recovering, but from a low base...
this is good news... It is getting back to normal. I wouldn’t call it a boom” BoE external member Michael Saunders
this is good news... It is getting back to normal. I wouldn’t call it a boom” BoE external member Michael Saunders
Bailey describes a huge downgrade (from 7.5% in Feb to 5.5%) in expectations for rise in unemployment, thanks to extension of furlough at Budget:
“There will be less long term unemployment - more people will from furlough to job, rather than furlough-unemployment-job”
“There will be less long term unemployment - more people will from furlough to job, rather than furlough-unemployment-job”
Dep Gov Cunliffe says we’ve discovered capital “at home”
Seen “forced experiment in shutting large part of our economy down & working from home & productivity didnt suffer...We have capability & capital sitting on our phones & desktops that enable us to work much more flexibly”
Seen “forced experiment in shutting large part of our economy down & working from home & productivity didnt suffer...We have capability & capital sitting on our phones & desktops that enable us to work much more flexibly”
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