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Ramsden: Back to the Future 2: Keeping inflation close to the 2% target
Thank you for the invitation to speak today. It’s a pleasure to be here at the Leeds University Business School. And it’s great to be able to get here after a short trip across the city from the offices of the Bank of England in Yorkshire House, where I’ve been meeting with colleagues who work there. The Bank has had a significant presence in Leeds for 200 years and we have committed to basing at least 500 staff here by 2027. My speech is a sequel to one I gave a year ago.footnote[1] I’m going to start with an assessment of how the UK economy has developed over the last 12 months, comparing the forecasts the ... (full story)
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BOE'S RAMSDEN: THERE WERE UNCERTAINTIES TO DIMINISH AND EVIDENCE TO POINT MORE CLEARLY TO FURTHER DISINFLATIONARY PRESSURES, THEN I WOULD CONSIDER A LESS GRADUAL APPROACH TO REDUCING BANK RATE.
— FinancialJuice (@financialjuice) November 20, 2024
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BOE'S RAMSDEN: MY STARTING POINT IS TO CONSIDER IT MORE LIKELY THAT PAY AWARDS WILL BE IN THE BOTTOM HALF OF THE EXPECTED 2-4% RANGE THAN IN THE TOP HALF.
— FinancialJuice (@financialjuice) November 20, 2024
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BOE'S RAMSDEN: THIS WOULD IMPLY A SCENARIO IN WHICH INFLATION STAYS CLOSER TO THE 2% TARGET THROUGHOUT THE FIRST PART OF THE FORECAST AND FALLS BELOW 2% MORE MATERIALLY LATER ON.
— FinancialJuice (@financialjuice) November 20, 2024