BOE’s Shafik is not convinced wage growth is at sustainable levels

FXStreet (Mumbai) - The Bank of England (BOE) Minouche Shafik, while speaking in London, said she will not vote for a hike until convinced wage growth will be sustained at a level consistent with the inflation target.

Key Quotes

Not yet convinced wage growth at a sustainable level for 2% inflation target

Sees rates rising more quickly than the path implied by the market curve at the time of last QIR if there no further downside risks

MPC must remain flexible to in response to new data and events

BOE doesn't plan to hold QE gilts indefinitely