From TokenPost · · 50s
Bank of England’s Greene Challenges Wage Benchmark
Megan Greene questions Bank of England’s 3.25% wage growth target ahead of November rate decision.
In brief
Megan Greene questions Bank of England’s 3.25% wage growth target ahead of November rate decision. Bank of England Monetary Policy Committee member Megan Greene raised concerns about the bank’s 3.25% wage growth estimate before November’s interest rate decision. Originally reported by TokenPost.
Megan Greene questions wage benchmark
Bank of England Monetary Policy Committee member Megan Greene questioned the bank’s estimate of pay growth consistent with its 2% inflation target.
3.25% wage growth target
The bank’s longer-term estimate puts target-consistent pay growth at about 3.25% and Greene raised concerns about that benchmark.
November rate decision
Bank Rate stands at 3.75% and UK inflation was 3.1% above the bank’s target as committee members assess inflation pressure ahead of next decision.
The short version
Bank of England Monetary Policy Committee member Megan Greene raised concerns about the bank’s 3.25% wage growth estimate before November’s interest rate decision.
