MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bailey says earnings "a bit disappointing"

BOE
  • Bailey says we are "seeing inflation coming down pretty rapidly" and that coincides with the end of global shocks. Services inflation is important as it picks up domestic pressures but is still above 6% and that is not compatible with a 2% target, but have started to see evidence of it coming down.
  • On earnings - were a bit disappointing. "There was quite a marked reduction in pay growth yesterday just not quite as as far as we thought." So again are seeing that coming down - but need to see more evidence to convince us we're on track for 2% sustainable inflation.
  • Most challenging in the data - quantity side of the labour market. Problem is ONS LFS has had quite serious problems. It's affecting more the identification of unemployment and inactivity. Are other things to proxy employment. Fewer things to proxy the split between unemployment and inactivity.
  • Asked if need to see all 3 improve to cut, he said in an ideal world all 3 would move consistently "and if they don't we will need to lift under the lid and see what's going on."
Homepagemarkets-real-timeCreditBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.