Hints and tips:
Related Special Reports
...Jennifer McKeown, chief global economist at Capital Economics, said high wage growth, which policymakers monitor closely as a key driver of domestic price pressures, resulted from higher inflation expectations...
...Jeremy Hunt has been criticised by UK green groups after he removed climate change from a list of four key priorities in a remit letter issued to the Bank of England committee responsible for financial stability...
...Andrew Bailey said inflation had “come down very rapidly” in the UK, but he wanted to see more progress in the key areas of services inflation, wage growth and the state of the labour market....
...Bailey insisted that he did not need to see inflation drop to 2 per cent, the BoE’s target level, before cutting rates, but he said the key point was “you need to see you are on the way”....
...Andrew Bailey, the bank’s governor, voted with the seven-strong majority to keep policy unchanged as he opened the door to a downward move as soon as the June MPC meeting....
...Investors expect the Monetary Policy Committee to keep the key rate of interest unchanged at 5.25 per cent when it meets on Thursday....
...The BoE has previously pointed to this rise in economic inactivity as a key driver of labour shortages that were fuelling wages and services inflation....
...Inflation data and wage growth are the key indicators officials will consider, not the GDP data....
...The Bank says lots of things and, particularly if Bailey says them, people tend to listen....
...The MPC voted six to three to keep the central bank’s key rate at its highest level in 15 years....
...Governor Andrew Bailey said things were “moving in the right direction” on UK inflation after the latest meeting of the Monetary Policy Committee, at which officials held the key rate at a 16-year high....
...But many clients are also buying on the basis of the long-term structural story,” said Bailey....
...Economists said a key unresolved question was whether the new regime would involve the BoE putting forward differing forecasts for the likely path of interest rates....
...“That is the key message.”...
...The BoE this month kept its key rate at 5.25 per cent, joining other systemically important central banks including the Federal Reserve and the European Central Bank in leaving rates on hold....
...The majority of the MPC favoured keeping the key rate unchanged....
...With views like these, you will understand that my ears pricked up when Bank of England governor Andrew Bailey gave evidence to UK parliamentarians last week....
...Bailey stressed that while there had been some slowing in services inflation — a key variable being watched by the BoE as it gauges domestic pricing pressures — it remained “much too high and well above...
...BoE governor Andrew Bailey signalled on Thursday that the central bank was ready to start easing policy, but not until it had more evidence that inflation was heading in the right direction....
...The MPC last week held the bank’s key rate at 5.25 per cent and governor Andrew Bailey signalled that the bank was ready to start easing policy but not until it had more evidence that inflation is heading...
...In a further sign that global borrowing costs are heading lower, the Swiss National Bank unexpectedly cut its key rate on Thursday....
...A cut in the key rate of interest would not entirely undo that restrictive stance given where rates stood, he added....
...“It is a problem,” BoE governor Andrew Bailey told the Lords economics committee last week....
...time that it is ready to consider cutting interest rates — even as it cautioned that it is not prepared to start easing yet.The majority of the Monetary Policy Committee members voted to hold the bank’s key...
...The Bank of England will lack crucial insights on unemployment as it makes key decisions on interest rate cuts in the coming months after the rollout of a new official jobs survey was delayed until September...
International Edition