BoE’s Dhingra: Overtightening often comes with hard landings and scarring of supply capacity
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“Monetary policy needs to be forward-looking because moderation of the policy stancerequires time to implement and to feed through to the real economy,” Bank of England (BoE) policymaker Swati Dhingra said on Wednesday.
“The outlook for headline inflation appears bumpy but downwards,” she added and acknowledged that the UK consumption remains below pre-pandemic level, striking a contrast to the Euro area and the United States.
Dhingra further argued that overtightening the policy often comes with hard landings and scarring of supply capacity.
GBP/USD largely ignored these comments and was last seen rising 0.1% on the day at 1.2630.
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