BOE’s Pill: The time when rate cuts will be possible is some way off for me

  • Different votes on MPC is symptomatic of a healthy discussion
  • Need for restrictive policy doesn’t mean rates need to stay at current levels indefinitely
  • Need to look through any temporary achievement of inflation target in the coming months

It’s a little bit of this and a little bit of that. But overall, the language is not much different from the BOE statement and Bailey yesterday. The point being made now is that it isn’t the right time to be talking about the timing of rate cuts just yet.

This article was written by Justin Low at Source