Home » Deputy Governor of the Bank of England: The rise in inflation is largely temporary

Deputy Governor of the Bank of England: The rise in inflation is largely temporary

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[Deputy Governor of the Bank of England: The rise in inflation is largely temporary]In a webinar hosted by the Bank of England, Broadbent said that during the epidemic, demand shifted from services to goods, and the tight supply of goods pushed up consumer prices. As the economy reopens, the Bank of England expects demand to return to services. Based on past experience, commodity and energy price increases are mostly temporary.

Bank of England Deputy Governor Ben Broadbent said that the recent surge in UK inflation may be largely temporary.

According to reports, in a webinar hosted by the Bank of England, Broadbent stated that the inflation rate may reach 4% in the fourth quarter of 2021 and the first quarter of 2022, and then fall back to the 2% target. He believes that within the forecast period of the Bank of England, “it may be necessary to adopt a certain degree of moderate tightening.”currencypolicy.

According to the report, Broadben pointed out that during the epidemic, demand shifted from services to goods, and the tight supply of goods pushed up consumer prices. As the economy reopens, the Bank of England expects demand to return to services. Based on past experience, commodity and energy price increases are mostly temporary.

(Article Source: Interface News)

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