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BOE: Bailey largely avoids explicitly describing what "gradual" means

BOE
Bank of EnglandCentral Bank NewsCEEMEABulletUKMarketsFixed Income BulletsForeign Exchange Bullets

Bailey interview at the online FT event has begun.

  • So far Bailey has said inflation has come down faster than he thought it would a year ago (he's said that many times before).
  • He's been asked if "gradual" is consistent with 4 cuts over the next year - he largely avoids the Q, but just says that "We always condition what we publish in terms of the projection on market rates, and so as you rightly say, that [100bp] was effectively the view the market had."
  • There's not a lot in the article online published alongside it - he sets out the 3 cases and elaborates on them - but no more than he has in previous appearances.
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Bailey interview at the online FT event has begun.

  • So far Bailey has said inflation has come down faster than he thought it would a year ago (he's said that many times before).
  • He's been asked if "gradual" is consistent with 4 cuts over the next year - he largely avoids the Q, but just says that "We always condition what we publish in terms of the projection on market rates, and so as you rightly say, that [100bp] was effectively the view the market had."
  • There's not a lot in the article online published alongside it - he sets out the 3 cases and elaborates on them - but no more than he has in previous appearances.