BoE’s Broadbent: We still see spare capacity in labour market

Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Deputy Governor Ben Broadbent  is delivering his remarks on the policy outlook.

Key quotes

“The BoE now expects more people to move off furlough and back into employment when the scheme comes to an end.”

“We still see spare capacity in the UK labour market.”

“Big compositional effects and base effects will distort wage growth data in coming months.”