BOE's Pill: High frequency indicators of momentum in wage developments appear to be easing

• High frequency indicators of momentum in wage developments appear to be easing
• Still expect CPI inflation to fall in Q2 as energy comps roll over
• Aggregate lending measures have slowed down only slightly
• Consistent with MPC expectations of a tight labour market, the unemployment rate has remained near low levels
• Staff continue to expect GDP to decline by 0.1% in Q1
• Expects China to rebound quite strongly, will account of one-third of global growth
• Latest data is 'somewhat disappointing' but much better than BOE forecasts from late last year

The outlook for the UK right now isn't great but that's arguably already priced into GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term.