BOE Pill: Wage growth of running too fast at present

The BOE Chief economist Pill is speaking:

• Wage growth is running too fast at present
• Says pricing pass-through from companies is too high
• Don't want people who are subject to political forces setting monetary policy
• Governments are subject to short-term political pressure, central banks can take hard decisions
• Good central bankers don't try to be popular
• Rising rates will only have an effect around the end of 2023

The GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term moved up toward the swing hi from August 1 at 1.22929. The high price reached 1.2276 and has backed off. The current level is trading at 1.2237 which is near the bottom of a swing area between 1.2237 and 1.22446. That is a close support. A break below would have traders looking toward the swing highs from August 3 and August 4 near 1.22808.