BoE’s Greene: Pricing partly reflects global factors

Bank of England (BoE) policymaker Megan Greene said on Tuesday that “pricing partly reflects global factors.”

Further comments

• Not all market pricing focused on UK.
• I am more concerned about supply side.
• Exchange rates haven't gone as theory suggests.
• A falling dollar would be disinflationary for UK.
• Too early to say where the dust will settle on the US Dollar strength.
• There is no sign of shakeout in labour market yet.
• UK wage growth remains pretty high.
• Services points to inflation persistence.
• I am more worried about services inflation than wages.
• Tariffs are more of a disinflationary risk.
• Rise in inflation expectations worrisome.

Market reaction

Following a volatile Asian trading session on Tuesday, GBP/USD is keeping its range below 1.3400 so far, adding 0.07% on the day.