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15 Mar 2021

BoE’s Bailey: Expect pickup in inflation towards 2% in next few months

The Bank of England (BoE) Governor Andrew Bailey, speaking on BBC Radio 4 this Monday, said that the effect of COVID-19 restrictions on the economy is huge but appear to be reducing.

Key quotes:

  • I am now more positive but with a large dose of caution about recovery.
  • The economy expected to get back to pre-pandemic size around the end of this year.
  • We now have a more balanced picture of risks.
  • The build-up of savings is an upside risk
  • I think there could be spending of savings.
  • Very helpful furlough scheme projected to extend beyond the end of COVID restrictions.
  • I would expect the next BoE forecasts to show a lower peak in unemployment.
  • I would expect a pickup in inflation towards 2% in the next few months.
  • The question is whether the pickup in inflation is sustained.
  • We will need to see evidence trend in inflation is sustainable.
  • We do not see inflation rising to 4-5%.
  • We are not out of tools for policy.

The comments did little to influence the British pound or provide any meaningful impetus to the GBP/USD pair, which was last seen hovering in the neutral territory around the 1.3925-30 region.

Mar 15, 2021

S&P 500 Index to climb towards 4100 by end-2021 – Deutsche Bank

Last week, risk markets bounced back even as global bond yields largely continued their climb. The S&P 500 gained +2.64% on the week (+0.10% Friday),
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Mar 15, 2021

Sweden Consumer Price Index (MoM): 0.3% (February) vs -0.4%

Sweden Consumer Price Index (MoM): 0.3% (February) vs -0.4%
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