Economic week ahead
The Bank of England gets back to work with a vengeance after the summer break this week, with a raft of speeches from rate-setters likely to be scoured for hints on the path of future policy.
Andrew Bailey, the Governor – who made an early start with his address on Friday at the virtual Jackson Hole symposium – is up before the Treasury select committee on Wednesday, along with Monetary Policy Committee colleagues Gertjan Vlieghe and Sir Dave Ramsden.
He is likely to face more questions on controversial negative interest rates and the Bank’s headroom to deal with future crises, following his claim that the Bank has more firepower if needed at the central bankers’ powwow.
Elsewhere Ben Broadbent, deputy governor, gives a speech and Andy Haldane, the Bank’s chief economist leads a panel, before Michael Saunders, a MPC member, wraps up with his own musings on the recovery on Friday.
Apart from purchasing manager indices, the week is light on data – with the major exception of the US non-farm payroll figures on Friday. Expect Donald Trump to make hay in the event of positive job figures, although the recovery trend has been slowing in recent months.