MPC

UK Monetary Policy – Labour market data “give one a better steer about the evolution of spare capacity than output growth alone says Ben Broadbent

Since the financial crisis “labour productivity has stagnated”, this has inevitably made the MPC “less confident about any forecast of productivity growth over the next few years” and meant that “output data are no longer sufficient statistics for inflationary pressure”. Ben argues that labour market data “give one a better steer about the evolution of … Continue reading →