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Jonathan Haskel, Bank of England (BoE) Monetary Policy Committee (MPC) member, said on Monday that he expects measured productivity to fall due to COVID-19 as health and safety improvements hard to measure, as reported by Reuters.

Additional takeaways

“Rising UK mortgage rates probably reflect the withdrawal of cheaper products, risk aversion.”

“Fiscal policy is doing a lot of the heavy lifting in the UK, the BoE will focus on its inflation target.”

Market reaction

The GBP/USD pair showed no immediate reaction to these comments and was last seen gaining 0.36% on a daily basis at 1.2978.