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What’s driving inflation: wages, profits, or energy prices? − speech by Jonathan Haskel
I am delighted to be at the Peterson Institute here in Washington DC today. I will talk today about the UK economy and monetary policy, with some comparison to the US and euro area. Let me summarise my main points at the outset. 1. My reading of official UK inflation data is that the contribution of rising business profits to recent inflation is small. 2. Looking forward, the labour market is still very tight in an absolute sense: for example, the vacancies-to-unemployment ratio remains historically very high, as does unit wage growth. 3. I prefer to lean against the risks of inflation momentum. As difficult as the ... (full story)
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BOE'S HASKEL: FURTHER RATE HIKES CAN'T BE RULED OUT.
— Breaking Market News (@financialjuice) May 25, 2023
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BOE'S HASKEL: I PREFER TO LEAN AGAINST RISKS OF INFLATION.
— Breaking Market News (@financialjuice) May 25, 2023
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BOE'S HASKEL: THE LABOR MARKET IS STILL VERY TIGHT IN THE UK.
— Breaking Market News (@financialjuice) May 25, 2023
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BOE'S HASKEL: AS DIFFICULT AS OUR CURRENT CIRCUMSTANCES ARE, EMBEDDED INFLATION WOULD BE WORSE. WE'RE NOT SEEING EMBEDDED INFLATION YET.
— Breaking Market News (@financialjuice) May 25, 2023