Carney praises openness of UK economy but adds a caveat
The Governor of the Bank of England, Mark Carney, sees the economy and wages accelerating.
In remarks to The Yorkshire Post on Thursday, Carney said inflation expectations in Britain are “well anchored”
He added: “We see domestic demand growth picking up and we see wages starting to pick up as well. We see all the characteristics of building that domestic inflation that we need to sustain and get back to our 2% target.
The comments followed a speech to business leaders, after visiting the Advanced Manufacturing Research Centre in Rotherham, in which he praised the openness of the UK economy.
However, he went on to explain that this openness to global trade, investment and skilled foreign workers and students comes with one caveat: “The one concern […] is that it is possible that we will have a protracted persistent period of low inflation globally, that we import that, particularly if the currency is stronger than it has been.”