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Broadbent due to speak at 10:00GMT

BOE
  • Deputy Governor Ben Broadbent is due to give a speech at NIESR entitled "Monetary policy: prices versus quantities" at 10:00GMT this morning.
  • Broadbent tends to be very cagey about giving anything away about his voting intentions for upcoming meetings. However, alongside Bailey and Pill, he is considered to be one of the pivotal swing members of the MPC.
  • With that in mind and 28bp priced in for the May meeting at present, Broadbent's comments today are likely to have more bearing further out the curve. Markets are pricing a terminal rate around 70bp higher than today by September.
  • The text of the speech is due to be released here.

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