BoE's Greene says due to spillovers, there can be a case for the BoE doing the opposite of the Fed in cases of divergence
Importance
Level 1
- Underlying employment growth remains a sideways trend, with vacancies looking to have levelled out.
- No evidence of a non-linear increase in unemployment is immediate.
- BoE survey data suggests that the decline in wage growth has now run its course.
- Forward indicators for wage growth are even more concerning than inflation expectations.
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