Bank of England Chief Economist Huw Pill said the slowdown in the UK economy together with the tight labor market conditions will put a lid on domestic inflationary pressures and weaken the risk of persistent inflation.
"Should economic slack emerge and unemployment rise as the latest MPC forecasts imply, that will weigh against domestic inflationary pressure and ease the threat of inflation persistence," the economist said in a speech at an event in New York, late Monday.
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by Renju Jaya
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