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Be ‘really, really careful’ on inflation – Bank of England’s Haskel
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LONDON (Reuters) – Bank of England interest rate-setter Jonathan Haskel said the BoE should be “really, really careful” about the risk of high inflation becoming embedded and he would watch data closely in the coming months given the high levels of uncertainty.
LONDON (Reuters) – Bank of England interest rate-setter Jonathan Haskel said the BoE should be “really, really careful” about the risk of high inflation becoming embedded and he would watch data closely in the coming months given the high levels of uncertainty.
“What I would prefer to do is make policy with much more attention on the data flow over the next few months,” Haskel said in an interview published by website The Overshoot on Monday.
Haskel, an external member of the Monetary Policy Committee, said last week he remained ready to “act forcefully” against persistent inflation, a phrase dropped by the majority of his colleagues earlier this month.
(Writing by William Schomberg, Editing by Kylie MacLellan)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It indicates how much more expensive a set of goods and services has become over a certain period.
Monetary policy refers to the actions taken by a country's central bank to control the money supply and interest rates to achieve macroeconomic goals such as controlling inflation, consumption, growth, and liquidity.
Interest rates are the amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal. They can influence economic activity and inflation.
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