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Greene says she may consider voting for a cut if all 3 metrics "come off more quickly"

BOE
  • Greene asked what to look for in the data in order to cut. She says in the labour market data this week wage growth is still pretty strong. Still look at wage growth and inflation persistence. If those were "all coming off more quickly" I might consider my vote. She says there are issues with the LFS survey but there are plenty of other indicators she can look at for measuring labour market tightness.
  • Greene says she wouldn't put much weight on the fact that the UK is in a technical recession. She said its something economists care about but it doesn't really change things for the average person. She said overall the data was a pretty minor surprise so "it wouldn't change my view" too much.
  • Greene asked on whether they look at other central bank moves - says don't feel any pressure to either front-run or follow any other central banks.
  • Greene asked on how shallow she would expect any tightening cycle it would be.She says it would be entirely dependent upon the data and can make conclusions based on that. "We are not date dependent we are data dependent" (This is a line the ECB has been using since Lagarde's January press conference!)
  • Greene says she is not a fan of dot plots - but they play a role in "gaming out the risks" without having to run full scenario analysis.
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