In his words: “If our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary transmission were to further increase our confidence that inflation is converging to our target in a sustained manner, it would be appropriate to reduce the current level of monetary policy restriction.”
Ugh. That was a bit of a mouthful. In any case, it just continues to reaffirm the likelihood of a June rate cut.
This article was written by Justin Low at www.forexlive.com. Source