Bank of England (BoE) Deputy Governor for Monetary Policy Clare Lombardellitestifies on the November Monetary Policy Report (MPR) before the UK Parliament’s Treasury Select Committee (TSC) on Tuesday.
Key quotes
We have seen a fall in services inflation and wage settlements.
I see risks to inflation on both sides.
Minimum wage comes up as a pressure for businesses more than any other pressure.
Market reaction
GBP/USD is picking up recovery momentum, looking to regain 1.2650 on the BoE hearings. The pair is still down 0.26% on the day.
Source: https://www.fxstreet.com/news/boes-lombardelli-i-see-risks-to-inflation-on-both-sides-202411191023