Bank of England's Saunders to keep close eye on weak UK labour market

  • 2/18/2021
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LONDON, Feb 18 (Reuters) - Bank of England policymaker Michael Saunders said he would focus in the coming months on the state of Britain’s labour market, which might remain weak even once the coronavirus pandemic passes. Even when the economy regained its pre-crisis level, it might still have spare capacity, Saunders said in comments to the Resolution Foundation think tank. “I will continue to put high weight on labour market data in judging whether spare capacity in the economy has been used up, and hence whether we are on track to return inflation sustainably to target in line with our remit,” he said. In December, Saunders said the BoE could probably cut interest rates slightly below zero, and it should be ready to pump more stimulus into the economy quickly if needed. (Reporting by David Milliken Writing by William Schomberg)

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