The BOE's Pill: There are dangers on both sides of the economic outlook.

In a CNBC interview on Friday, Bank of England (BOE) Chief Economist Huw Pill said, "The vital message is that we expect to land on the previous day

May 06, 2022 - 04:00 PM 291 views

The BOE's Pill: There are dangers on both sides of the economic outlook.

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© The BOE's Pill: There are dangers on both sides of the economic outlook.

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In a CNBC interview on Friday, Bank of England (BOE) Chief Economist Huw Pill said, "The vital message is that we expect to land on the previous day as we face dangerous threats on both sides of the economic outlook."

The two main factors causing inflation to rise by 10% and then fall are energy and international goods prices.

·        We don’t have any forex-market (FX) goals and objectives.

·        We are dedicated to short-term reactions in the forex market.

·        There is no apparent risk of second-round effects.

·        Settlements regarding risk balances with interest rates are finely tuned among themselves.

·        Overnight quick fix solutions cannot be offered by monetary policy.

·        When asked by Pill about what would be the exact cause for the Bank of England (BoE) to pause rates, He says they want to watch more inflation forecasts, wages, price settings, and momentum in the economy with consistent targets.

·        If they don’t see any results, they will design one more strategy.

·        They said no comments on fiscal policy.

The Market Reaction

In response to Pill’s comments, the GBP/USD pair holds its rebound movement towards the 1.2350 level. Currently, the pair is trading at 1.2336 indexes, which are down by 0.26% in a day.

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