BOE’s Haskel Warns of Slow Loosening in UK’s Labor Market
- Policymaker says Britain’s jobs market is still ‘very tight’
- Haskel has said rate cuts should be ‘a long way off’
Bank of England rate-setter Jonathan Haskel warned that the “very tight” labor market is loosening only slowly and will be the key to bringing down inflation.
In a speech in London Tuesday, he said that the vacancies to unemployment ratio is falling “rather slowly” and that the persistence of UK inflation will depend on its strength going forward.