BoE's Greene: Slack opened up in the labour market and the economy
- I expect slack to increase
- It's encouraging that services inflation is coming down
- Evidence on wage growth is encouraging
- BoE projection is benign
- Inflation has stabilised
- My concern is around second-round effects
- Business inflation expectations are elevated and rising
These are some dovish comments from Greene who has been one of the most hawkish BoE members for quite some time.