BOE dep gov Broadbent with more comments on BBC Radio 5Live 4 Nov
- factors holding down inflation were temporary
- real incomes will rise but growth will be slower
- BOE policy stance is the appropriate one
- fall in GBP single biggest factor in raising inflation forecast
- household debt has not been rising rapidly
Real incomes to rise? Only if wages exceed the ramp up in inflation and that's not going to happen anytime soon.
The BOE have been signalling the inflation rise for a while now as I highlighted in a preview so reaction to yesterday's increase in forecasts was somewhat overdone imho
It's been a pre-recorded interview just released in the BBC's Wake up to Money programme on 5Live
GBPUSD 1.2454 on session lows but ntg directly related to any of this claptrap.
