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Bailey says "not unreasonable" for market to think first cut is coming this year

BOE
  • Bailey says "it's not unreasonable" for market to think first cut is coming this year. But falls short of endorsing or criticizing the market curve. That's not really new either.
  • Bailey says on technical recession. 2 successive Qs last year add up to cumulatively -0.5%. Pervious recessions are from -2.5% to -20%. So this is a very weak recession.

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