The Bank also emphasized its inflationary fears as demand continues to outpace supply. The Federal Reserve Bank will consider raising interest rates to tame an inflationary economy.
Labor markets are still tight, and getting worst in some areas.
However, price competition is easing the situation. Bank lending, especially for residential mortgages, is still down. The labor market is tight and wages rose slightly. E-tailing quadrupled this holiday season. Steel prices picked up, while construction materials eased.