LONDON, March 8 (Reuters) - Wage growth and the public's
inflation expectations offer an unreliable guide to the future
outlook for inflation, Bank of England Monetary Policy Committee
member Swati Dhingra said on Wednesday.
Dhingra - who voted against raising rates last month - said
Britain's official measure of wage growth tended to be a lagging
indicator, while inflation expectations often tracked current
inflation rates rather than having predictive power.
"Those who put too much weight on those numbers, I think
should have that in mind as well," she said at an event hosted
by the Resolution Foundation think tank, referring to inflation
expectations.
Rapid wage growth and above-average expectations for future
inflation among the general public are key reasons why many BoE
policymakers see a risk that inflation will be slow to fall.
(Reporting by David Milliken; editing by William James)
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