BoE's Broadbent: markets did not properly price in risk - BBC Radio 5

Bank of England Deputy Governor speaking on BBC Radio Five's Wake Up Money.

Key highlights:

• Market participants didn't properly price in risk.
• Equity markets didn't pay attention to the idea that economic growth would lead to inflation
• Path of rates now slightly higher than they were in November
• More confident wage growth is improving in the UK
• Rate hikes will come sooner, but will be limited, gradual
• Doubling interest rates from 0.5 would not historically represent a big increase
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