Surveillance: Pound Gets Truss-Inspired Boost
Bloomberg Surveillance
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Is There a Need for a Deceleration in Policy Rates?
We think these c b needs to get policy rates towards neutral in a world in which they certainly have recession risks, but also have fairly significant inflation concerns. Keeping policy rates at zero don't make sense. We think they're going to move 75 basis points. But overtime, i think par of the problem we have is we're going to need much more significant adjustments in labor markets to contain inflation. And i think central banks are starting to understand that. They're not there yet.
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