November 11, 2024 10:05 GMT
BOE: Upcoming MPC speakers (1/2)
BOE
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- Mansion House will be the highlight on the speech circuit this week with both Chancellor Reeves and Governor Bailey headlining on Thursday. The text of Governor Bailey’s speech will be released at 18:00GMT, and coming so soon after the November MPR and press conference it would be unusual for him to mark a notably different tone on monetary policy. At the time of writing there is no title for the speech. Chancellor Reeves is reportedly going to use the speech to discuss pension reforms, possibly including merging together some smaller public sector scheme and encouraging investment into UK infrastructure.
Elsewhere this week we will also have appearances from Huw Pill (Tuesday) at the UBS conference on “Reversing the great global tightening – how far and how fast?” As a formerly hawkish dissenter (at the August MPC meeting he preferred to leave Bank Rate on hold) his comments will be closely watched to see if he gives an update on how he personally sees the balance of risks between the BOE’s three “cases” (case 1 more dovish, 3 more hawkish, 2 the central case). His comments on Friday at the Agency briefing were broadly in line with case 2, but he was delivering those representing the wider MPC, so it is unclear whether this is in line with his personal view.
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