BOE's Tenreyro says data shows that Q1 slowdown was temporary
BOE's Silvana Tenreryro comments in an interview with the Evening Standard
- Recent economic data confirms that the soft patch in Q1 was snow-related
- Will watch very closely the data in the coming weeks ahead on 2 August decision
- "I don't want to say more than that"
- Worst-case scenario on Brexit and trade war is pressure on inflation with a negative effect on output
Well, recent data hasn't done much to put off the BOE from raising rates come August. But the central bank should have economic estimates for Q2 growth by the time they convene and that will be key to the decision they will make on 2 August. Nothing new from Tenreyro here.