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Broadbent "doesn’t rule out a policy easing at some point this year."

BOE
  • Full paragraph: "In the MPC’s main forecasts in February, conditioned on a market path for Bank Rate that involved 100bp of cuts this year and a further 75bp during 2025, projected inflation two years from now was certainly lower than it is today, but still slightly above the 2% target. This certainly doesn’t rule out a policy easing at some point this year. In my view that is the more likely direction in which Bank Rate is likely to move. But even if that proves to be the case, the timing of any adjustment can only depend on the actual evolution of the economic data, and in particular the three sets of indicators – the tightness of the labour market, wage growth and services inflation – to which the Committee has paid such close attention through this period."

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