TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

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

Tenreyro giving little indication whether seh will vote for cut or not

BOE
  • This is the key part of Tenreyro's speech. She's clearly not going to change to vote for a hike - but this doesn't really provide much guidance as to whether she will continue to vote for rates on hold in the May/June meetings (her last before her term ends) or if she ends up voting for a cut in one of those meetings:
  • "With Bank Rate moving further into restrictive territory, I think a looser stance is needed to meet the inflation target in the medium term. In general, a looser stance can be achieved either through lower Bank Rate today, or through lower Bank Rate in future, which leads to a lower market curve. A lower market curve would then lower lending rates and loosen financial conditions today. At the same time, with Bank Rate moving further into restrictive territory, there are limits to the amount of loosening that can be provided through this mechanism. So I expect that the high current level of Bank Rate will require an earlier and faster reversal, to avoid a significant inflation undershoot."
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.