Economic news

BoE should stand firm on inflation despite economic slowdown-Haskel

2022.11.11 11:35



© Reuters. FILE PHOTO: A general view of the Bank of England building in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska/File Photo

LONDON (Reuters) – Bank of England interest rate-setter Jonathan Haskel said signs of a slowdown in Britain’s economy did not imply a need for less tightening of monetary policy and the central bank should “stand firm” against the risk of persistent inflation pressure.

A very tight labour market and Britain’s poor record on investment meant the economy was at risk of persistent inflation pressure, Haskel said in the text of a speech at the Bank of Israel which was published online.

“The concern for me is the risk that if price rises become embedded, monetary policy would have to be tighter for longer, prolonging a UK recession,” he said.

“I wish to avoid such an outcome. Therefore, right now, I believe it important for monetary policy to stand firm against the risk of persistent inflationary pressure.”



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 97,476.12 0.52%
ethereum
Ethereum (ETH) $ 3,359.16 1.70%
tether
Tether (USDT) $ 1.00 0.16%
solana
Solana (SOL) $ 251.93 1.57%
bnb
BNB (BNB) $ 660.24 0.56%
xrp
XRP (XRP) $ 1.45 2.66%
dogecoin
Dogecoin (DOGE) $ 0.427738 2.66%
usd-coin
USDC (USDC) $ 1.00 0.14%
cardano
Cardano (ADA) $ 1.03 4.99%
staked-ether
Lido Staked Ether (STETH) $ 3,356.56 1.74%
tron
TRON (TRX) $ 0.207892 2.42%
stellar
Stellar (XLM) $ 0.57639 16.14%
avalanche-2
Avalanche (AVAX) $ 41.59 1.29%
the-open-network
Toncoin (TON) $ 6.14 4.65%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 1.99%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,968.43 1.93%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,132.02 0.42%
polkadot
Polkadot (DOT) $ 8.92 2.88%
chainlink
Chainlink (LINK) $ 17.86 1.07%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.83 0.65%
weth
WETH (WETH) $ 3,358.64 1.47%
sui
Sui (SUI) $ 3.38 3.11%
pepe
Pepe (PEPE) $ 0.00002 2.89%
near
NEAR Protocol (NEAR) $ 6.66 6.80%
leo-token
LEO Token (LEO) $ 8.48 1.57%
litecoin
Litecoin (LTC) $ 97.66 1.70%
aptos
Aptos (APT) $ 12.29 5.29%
uniswap
Uniswap (UNI) $ 10.81 0.36%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,534.90 1.79%
hedera-hashgraph
Hedera (HBAR) $ 0.149069 2.03%
internet-computer
Internet Computer (ICP) $ 11.59 0.82%
usds
USDS (USDS) $ 1.00 0.26%
crypto-com-chain
Cronos (CRO) $ 0.190431 5.44%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.563072 1.95%
ethereum-classic
Ethereum Classic (ETC) $ 28.66 3.81%
render-token
Render (RENDER) $ 7.96 1.17%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 5.52%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.12%
kaspa
Kaspa (KAS) $ 0.1533 0.69%
bittensor
Bittensor (TAO) $ 514.00 3.11%
bonk
Bonk (BONK) $ 0.000048 0.44%
vechain
VeChain (VET) $ 0.043718 3.89%
whitebit
WhiteBIT Coin (WBT) $ 24.36 1.60%
dai
Dai (DAI) $ 1.00 0.25%
arbitrum
Arbitrum (ARB) $ 0.849317 2.37%
filecoin
Filecoin (FIL) $ 5.68 2.40%
cosmos
Cosmos Hub (ATOM) $ 8.68 4.26%
celestia
Celestia (TIA) $ 7.88 7.65%
mantra-dao
MANTRA (OM) $ 3.67 0.75%
okb
OKB (OKB) $ 54.61 6.36%