Bank of England (BOE) Chief Economist Andy Haldane makes some comments on the impact of price pressures on wages while sounding very optimistic on the economic outlook.
Key quotes
“This could look closer to wage-price spirals seen in the 1970s but not remotely on the same scale.”
“In the medium to long term, I am very optimistic about economic prospects for London city center.”
GBP/USD reaction
GBP/USD keeps its sluggish momentum intact below 1.4200, undermined by the US dollar’s strength ahead of the critical US data.
Haldane’s comments had little to no impact on the cable, as it currently trades at 1.4195, down 0.07% so far.
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