BOE Greene: we are not sure if weakness in UK economy is demand or supply

  • BOE Greene speaking on the economy

BOE Greens:

  • We are not sure if weakness in UK economy is caused by demand or supply
  • She is more worried about supply, really week productivity growth.
  • There are concerns about impact of the government budget changes.
  • We have no idea what US tariffs will look like when the dust settles.
  • We are seeing in output gap open up which should bring inflation back to target.
  • UK's labor market has been weakening pretty slowly, but we should see wage growth, down.

Uncertainty prevails from BOE's Greene

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