Boe's Broadbent Sees Inflation Above 5%, Price Pressure From Jobs Market

• Bank of England Deputy Governor Ben Broadbent said on Monday that inflation in Britain might "comfortably exceed" 5% in April 2022 and that the country's tight labour market risked becoming a more persistent source of inflation. 
• The BoE, which is trying to steer the economy through its recovery from a pandemic slump, said last month that inflation would hit about 5% in the second quarter of 2022 before falling. 
• Speaking to Leeds University Business School, Broadbent suggested that the forecast would probably have to be raised further above the central bank's 2% target. 
• "The aggregate rate of inflation is likely to rise further over the next few months and the chances are that it will comfortably exceed 5% when the Ofgem (regulator) cap on retail energy prices is next adjusted in April," Broadbent said.

(Source: Reuters)