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Bailey: We are not saying whether the current rate or market curve is better

BOE
  • Bailey asked if current rates are closer to the Bank's estimates of the terminal rate than current market rates.
  • He says that he wants to emphasize the point that there is an upside risk to inflation - due to the labour market and oil/gas prices. Says "we aren't placing a bet either way on which is the better curve" but are saying that the market path is too high - but not guiding on where between the two it is.

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