BoE’s Ramsden: Labour market is continuing to weaken

BoE Deputy Governor David Ramsden pointed out the ongoing weakening of the labor market in a speech at King's College in London. He emphasized that wages will be a key focus this year and maintained that the current policy environment remains restrictive. His comments suggest that the trends in the labor market are crucial for the central bank's monetary policy. Continued weakness in the labor market could impact consumer spending and inflation rates, prompting investors to closely monitor future inflation trends and central bank interest rate policies. This situation raises concerns about the effect on the pound's value, as market participants remain vigilant regarding upcoming economic indicators that may reflect labor market fluctuations' influence on monetary policy.