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Familiar Dovish Notes from Tenreyro

BOE

BoE MPC member (soon to be departing) Tenreyro pushes her usual dovish tone, as she suggests that the central bank “may have already tightened too much,” while pointing to a degree of flexibility in the Bank’s inflation goal, which is “meant to respond to shocks.” She also pointed to the likelihood of an inflation undershoot further down the line. Nothing in the way of meaningful reaction in the major GBP FX crosses, given the familiar tone of her comments and her soon to be departing status.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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