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A new era of more frequent communication? (1/2)

BOE
  • It is notable that there has been a recent ramp up in communication from MPC members since the November meeting. It is also notable that there seems to be a much more coherent and consistent message in all the MPC speeches and comments.
  • 2 week ago Greene (one of 3 members to continue to vote for a 25bp hike in November) seemed to subscribe to the Table Mountain view to some extent. She asked if rates were restrictive enough, but also said that she didn't think that markets had "clocked on" to higher for longer on a global basis yet (see more on here comments here).
  • Another of November's hawkish dissenters Haskel said yesterday that "Rates will have to be held higher and longer than many seem to be expecting." Yesterday was the first time that he really seemed to be more aligned with Table Mountain rather than Matterhorn.
  • We have also seen a number of interviews with Bailey recently in regional press. And the message at last week's TSC testimony was very much of higher for longer and risks are for more hikes.

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