5/11/2017, 2:10 PM (Source: TeleTrader)
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UK labor market has been buoyant, Carney says

The Brexit process is hampering exporters' willingness to boost capacity, Bank of England chief told reporters on Thursday. In Mark Carney's view, the current stimulus measures remain appropriate. He reiterated the jump in inflation above target can be attributed to the drop in the sterling exchange rate. He also expressed concern about the modest growth in trade relative to depreciation and improvements on a global level. 

Hiring in the United Kingdom has been "buoyant" and more people have been employed than ever before, the top rate-setter said. He went further to say average hours growth has picked up "smartly," though that wages aren't rising strongly overall, he said.

Asked about the assessments of the equilibrium unemployment rate within the Monetary Policy Committee, the governor revealed some panel members see it below 4.5% and others higher. Joblessness is seen slowly declining over the forecast horizon by 2020 to that level, according to the inflation report published earlier, compared to a slight rise in projections issued in February.

Baha Breaking News (BBN) / IT