BoE Deputy Governor Ramsden says removing ring-fencing of banks would be a real challenge to UK financial stability framework
Importance
Level 1
- Key difference for policy this year is not looking for a hump in CPI.
- Wages will remain a key focus for him.
- Labour market is continuing to weaken.
- Latest ONS wage data is encouraging.
- Starting point is that the neutral rate is in the middle of 2-4% range.
- Unemployment and redundancies are picking up.
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