BoE’s Greene strikes cautious note on consumption
Monetary policy committee member says UK consumption has been weak, but risks are to the upside
Consumption growth could recover in the months ahead, Bank of England policy-maker Megan Greene said yesterday (September 25), and this demands a cautious approach to monetary easing.
The external member of the monetary policy committee identified three main drivers of consumption, which has only risen by 0.8% in real terms since the BoE began raising rates in December 2021.
First, she said consumers appeared to be saving more as a precautionary measure after several large shocks had hit the
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