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Pill still seems to be leaning hawkishly

BOE

Key part of the Pill speech below, he seems to be leaning hawkishly still, noting that the MPC need to "see the job through". He's used that phrase in the past. Highlight here:

  • "Given the lags in monetary policy transmission, there is a lot of policy-in-the-pipeline still to come through. Nevertheless, on balance the onus remains on ensuring enough monetary tightening is delivered to ‘see the job through’ and sustainably return inflation to target. Although headline inflation is set to fall significantly in the course of this year owing to a combination of base effects and falls in energy prices, caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation."
  • Full speech available here.

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