UK Jobs Data, Wage Growth Strengthens Case for Bank of England Rate Hikes
Plus, the Chancellor rules out increasing capital gains tax in the budget
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Plus, the Chancellor rules out increasing capital gains tax in the budget
Bank of England Governorย Andrew Baileyย warned that governments may be left helpless in the event of another downturn as their firepower is sapped by weak growth and a series of severe shocks. "Fiscal policy can operate as a countercyclical tool of policy," Baileyย said at an event in Turkey. "But if the negative shocks come at higher frequency, and underlying growth in the economy is lower, countercyclical policy becomes very difficult to follow successfully." (Source: TCMB Istanbul Economic Forum)
Casey Sprake, Market Strategist at AG Capital told Bloombergโs Jennifer Zabasajja on Horizons Middle East & Africa, the Fed's September hike marked a turn in policy and the Bank of England may be close to the same point. (Source: Bloomberg)