“The data we have so far suggest that the drop in aggregate spending already taking place will be extremely large,” Bank of England (BoE) policymaker Silvana Tenreyro said on Thursday. Key takeaways “COVID-19 shock likely to highly varied across sectors.” “We will continue to set policy in order to achieve price stability and anchored inflation expectations.” “We want to minimise damage from COVID-19 to supply sector of the economy.” “Current policy actions will help counterbalance some of the underlying weakness in inflation.” “Inflation data will be hard to interpret.” “COVID-19 19 may strengthen existing trends towards weak unit wage cost growth in consumer sectors and weak input cost inflation.” “The reality is that both supply and demand are likely to fall sharply in affected sectors.” “Some shoppers may permanently switch to online shopping after COVID-19.” “Switch to online working could depress commercial rents.” “International travel may not recover after COVID-19.” “The rise in universal credit claims suggests a very sharp reduction in employment.” Market reaction The GBP/USD pair largely ignored these comments and continues to trade with modest losses near the 1.2500 handle. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index trims gains and recedes to 99.70/65 FX Street 2 years "The data we have so far suggest that the drop in aggregate spending already taking place will be extremely large," Bank of England (BoE) policymaker Silvana Tenreyro said on Thursday. Key takeaways "COVID-19 shock likely to highly varied across sectors." "We will continue to set policy in order to achieve price stability and anchored inflation expectations." "We want to minimise damage from COVID-19 to supply sector of the economy." "Current policy actions will help counterbalance some of the underlying weakness in inflation." "Inflation data will be hard to interpret." "COVID-19 19 may strengthen existing trends towards weak unit wage cost growth in consumer… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
