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Ramsden due at 15:15BST

BOE
  • At 15:15BST / 10:15ET, MPC member Dave Ramsden will appear as a panellist at the Peterson Institute for International Economics conference on "Monetary Policy Responses to the Post Pandemic Inflation: What Happened and Lessons Learned" with the topic of his panel , ‘What caused the inflation, and what did central banks do?"
  • The text of his opening remarks will be released on the BOE website here. and the video link is here.
  • Ramsden's last speech on 27 February gave little away on his monetary policy views, stating: "I support the more balanced outlook on risks to inflation set out in the MPC's latest forecasts. Although services inflation and wages growth have fallen by somewhat more in recent months than we had expected last autumn, key indicators of inflation persistence remain elevated. In terms of my thinking about the future, I am looking for more evidence about how entrenched this persistence will be and therefore about how long the current level of Bank Rate will need to be maintained."
  • Ramsden does have some form for dissenting, although we wouldn't go so far as to state that he is a particularly activist member on the monpol side. However, we think he is in general less wedded to the views of the "core" of the internal members (Bailey, Broadbent, Pill) and along with Breeden (who still hasn't really discussed her personal monpol views in great detail since she joined the MPC) could potentially be the first of the internal members to break ranks to vote for a cut. With this in mind, his comments today will be very closely watched.
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