020 7898 0500On an otherwise quiet day for economic data releases in the UK, the BoE’s Ben Broadbent suggested that UK productivity was menopausal. He was roundly criticised across social media and the message he was trying to convey was largely forgotten. He later apologised for his ‘poor choice of language’ and insisted he was referring to ‘climacteric’, which is a biological term that applies to men and women. But the knives were out by then and could yet be sharpened further.
Sterling didn’t fare too badly against the dollar, especially in the context of its recent performances, but it still lost a little ground. It did better against the euro, but this was largely driven by events elsewhere. The rest of the week is quiet for the UK in terms of economic data, but there is plenty to keep the Great British Public entertained, with the weekend’s Royal Wedding and FA Cup.
