BoE’s Ramsden: Recent wage growth not consistent with 2.0% inflation target

Bank of England (BoE) Deputy Governor Ramsden made some comments on the UK wage inflation during his appearance on Friday.

Key quotes

Other wage data suggest wage growth probably peaked at 7.0% rather than 8.0% in official series

Either way, recent wage growth not consistent with 2.0% inflation target.

Weakness of supply capacity is a real feature of the UK economy.

Weak supply capacity is relevant to the UK monetary policy.

Nov 17, 2023

US Housing Starts rise 1.9% in October, Building Permits increase 1.1%

The monthly data published by the US Census Bureau revealed on Friday that Housing Starts rose 1.9% on a monthly basis in October, following the 3.1% increase (revised from 7%) recorded in September.

New Zealand Dollar trades mixed at end of week

The New Zealand Dollar (NZD) is trading mixed at the end of the week, rising versus the US Dollar (USD), the Euro (EUR) and the Pound (GBP) but falling against the Japanese Yen (JPY), which is strengthening because – according to analysts at Danske Bank – it historically tends to do well during periods of declining global growth and inflation.