In an interview with The Guardian, Bank of England policymaker Ian McCafferty argued that labour shortages would lead to an acceleration in wage growth to close to 4+ next year.
Key quotes
“The Bank of England had not left it too late to start tightening policy but would need to announce two quarter-point interest rate increases within the next 18 months to two years.”
“Uncertainty caused by Brexit had affected businesses far more than consumers and was causing investment to be weaker than otherwise would be the case.”
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