Broad­bent says in­fla­tion to stay below 1pc

The Pak Banker - - FRONT PAGE -

LON­DON: Bank of Eng­land Deputy Gov­er­nor Ben Broad­bent said on Fri­day the re­cent drop in oil prices is likely to keep Bri­tish in­fla­tion below 1 per­cent through­out this year. "That drop (in oil prices) has been a pretty pro­tracted one, and it will keep in­fla­tion below 1 per­cent, in all like­li­hood, through­out this year," Broad­bent told BBC ra­dio. "But af­ter that it's likely to rise, and in­deed we ex­pect it to go back to the tar­get, if not to say a lit­tle above it in two or three years." Broad­bent re­peated his view that there is no ur­gent need to raise in­ter­est rates. On Thurs­day, the BoE trimmed its fore­casts for Bri­tish eco­nomic growth.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.