CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Ramsden's speech less hawkish than previous comments

BOE
  • Ramsden is one of the more hawkish MPC members (having hawkishly dissented in September looking for a 75bp hike against the 50bp delivered and voting in line with the 75bp hike in November).
  • His speech today suggests he will continue to look for at least another 50bp hike in December (the minimum bar for forceful). He also specifically alludes to a tight labour market and high services inflation as things he is watching.
  • However, introducing talk of potential cuts down the line is a dovish development. He is also questioning the timelag of how quickly monpol passes through to the real economy - and notes that it could be shorter/longer than 18-24 months. If shorter then presumably less is needed to be done in terms of future hikes.
  • There is also nothing in here to suggests whether he is leaning to 50/75bp in December.
  • Overall given his previous communications and given he is one of the most hawkish MPC members, these comments are a move in a slightly more dovish direction.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.