Yes, from the PR email.
Well ...
"The Bank seems to disagree with the widely held view that the UK economy is creaking badly. While it notes some gloomy data from the most recent PMIs and evidence that labour markets are softening, it does not think the UK is on the edge of a dangerous economic reverse. In fact, three members of the committee voted to raise rates further - clearly suggesting the Bank sees more risk in inflation than in recession."
Okay. Thanks, man.
'Who was that, boss?'
Nick.
'Old Nick?!?!?! WTF?!'
What?!
'Old Nick. The devil, you mean, yeah? Satan.'
Eh? No. Nick. Nicholas Hyett from Wealth Club.
'Nice.'
I said Wealth Club, Voice. Not Jazz Club.
Idiot!
Anyway ...
"Having said that there is some good news where inflation is concerned. Inflation is expected to be under 5% in the final quarter of the year. A substantial fall from the most recently reported number and welcome news for a government that made cutting inflation a key policy pledge."
You see? There's nothing devilish about him at all.
"Overall it's a surprisingly positive set of minutes from the Bank, and certainly doesn't reflect the gloom you might feel on the streets. The result is a pause in rate hikes, but the commentary doesn't suggest interest rates will fall quickly from here."
You see? He's a perfectly charming chap, our Nick.
'How old is he?'
I don't know! Just be quiet, Voice.
ENDS
ENDS
ENDS
