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Bank of England's Ramsden says sees little inflation risk from pay

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Bank of England's Ramsden says sees little inflation risk from pay

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LONDON (Reuters) – New Bank of England Deputy Governor Dave Ramsden said on Tuesday that price pressures in Britain remained below the kind of levels that would pose a threat to the central bank’s inflation target. “Measures of domestically generated inflation are consistent with there still being some slack in the economy,” Ramsden said in a series of written answers submitted to a committee of lawmakers in Britain’s parliament. “They generally remain a little below levels consistent with the 2 percent target. Despite continued robust growth in employment there is no sign of second-round effects onto wages from higher recent inflation.” The BoE surprised investors last month when it said most of its rate-setters expected to increase borrowing costs soon, even though Britain’s economy is growing more slowly than other European economies and uncertainties about Brexit are mounting.

(Writing by William Schomberg; Editing by Michael Urquhart)
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