FOREX TradingCharts.com

Financial News: BoE's Ramsden Says Workers Turn More Flexible To

BoE's Ramsden Says Workers Turn More Flexible To Wage Demand Since Brexit

11/21/2017 - 00:54:00 (RTTNews)

(RTTNews) - UK workers responded to uncertainties about the outlook by showing even more flexibility in their wage demands since the EU referendum, Bank of England Deputy Governor Dave Ramsden, said in London.

At the November meeting, Jon Cunliffe and Dave Ramsden were the only two members in the monetary policy committee to vote against a rate hike. The bank had lifted the rate by a quarter point early this month.

Ramsden said he was willing to wait for more evidence on the evolution of wage and domestic cost growth before beginning to withdraw some monetary stimulus.

"The weakness in real wage growth, and the subdued nature of domestically generated inflation mean I am not yet ready to discount the idea that labor market flexibility is continuing to intensify," Ramsden said in a speech.

"I attach some weight to the idea that workers have responded to the changing outlook by showing greater flexibility in their wage demands," said Ramsden.

Further, he noted that GDP growth has slowed from average quarterly rates of 0.7 percent in 2014 and 2015 to 0.4 percent more recently.

"For those of you who, like me, have had to assess and categorize past UK slowdowns as either U- or V-shaped, I consider what we are witnessing as more of a saucer-shaped slowdown and pretty unusual for that," he said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


WTO: Argentinean President Defends Open Markets In Speech (10 min(s), 33 sec(s) ago)
(RTTNews) - Argentinean President Mauricio Macri on Tuesday hosted the opening ceremony of the Wor ...Full Story»

TECHINT: Company To Develop US$ 1 Billion Steel Mill In Mexico (02 hr(s), 17 min(s), 33 sec(s) ago)
(RTTNews) - The Italian-Argentinean multi-national Grupo Techint pitched to Mexican President Enri ...Full Story»

Poland Core Inflation Accelerates In November (07 hr(s), 53 min(s), 33 sec(s) ago)
(RTTNews) - Poland's core inflation accelerated in November after easing in the previous month ...Full Story»

India Inflation Climbs To 15-month High In November (08 hr(s), 05 min(s), 33 sec(s) ago)
(RTTNews) - India's retail inflation accelerated to its highest level in fifteen months in Nov ...Full Story»

U.S. Producer Prices Climb More Than Expected In November (08 hr(s), 14 min(s), 33 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by slightly more than expected in the month of N ...Full Story»

German Economic Sentiment Deteriorates More Than Forecast (08 hr(s), 59 min(s), 33 sec(s) ago)
(RTTNews) - Germany's economic sentiment weakened more-than-expected in December amid politica ...Full Story»

UK Inflation Rises To 3.1%, Highest Since 2012 (09 hr(s), 29 min(s), 33 sec(s) ago)
(RTTNews) - UK inflation accelerated unexpectedly to its highest level in more than five years in ...Full Story»

South Africa's Manufacturing Production Rebounds In October (10 hr(s), 44 min(s), 33 sec(s) ago)
(RTTNews) - South Africa's manufacturing production increased at a faster-than-expected pace i ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

WTO: Argentinean President Defends Open Markets In Speech

12/12/2017 - 16:47 PM (RTTNews)
(RTTNews) - Argentinean President Mauricio Macri on Tuesday hosted the opening ceremony of the Wor ...Full Story>>

TECHINT: Company To Develop US$ 1 Billion Steel Mill In Mexico

12/12/2017 - 14:40 PM (RTTNews)
(RTTNews) - The Italian-Argentinean multi-national Grupo Techint pitched to Mexican President Enri ...Full Story>>

Poland Core Inflation Accelerates In November

12/12/2017 - 09:04 AM (RTTNews)
(RTTNews) - Poland's core inflation accelerated in November after easing in the previous month ...Full Story>>

India Inflation Climbs To 15-month High In November

12/12/2017 - 08:52 AM (RTTNews)
(RTTNews) - India's retail inflation accelerated to its highest level in fifteen months in Nov ...Full Story>>

U.S. Producer Prices Climb More Than Expected In November

12/12/2017 - 08:43 AM (RTTNews)
(RTTNews) - Producer prices in the U.S. increased by slightly more than expected in the month of N ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.