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...Andrew Bailey said during a visit in Washington that the UK remained “pretty much on track” compared with the BoE’s February inflation forecast, adding that he expected a further sharp drop to price growth...
...Unfortunately, the BoE’s response to these recommendations looks dismal....
...While he said the US model would not suit the BoE, he argued the MPC should consider publishing its own forecast for interest rates in the longer term....
...The Treasury, the BoE and the OBR declined to comment....
...The BoE’s financial policy committee, which monitors risks to financial stability and develops policies to offset them, said the risk environment “remains challenging” and the likelihood of a “sharp correction...
...Bailey, like Christine Lagarde at the European Central Bank, has been keen to signal that the BoE will set its own course....
...The BoE also reported that the “effective” interest rate — the actual interest paid — on newly drawn mortgages fell 9 basis points, to 5.19 per cent in January....
...they expected the prices they charge to consumers to rise by 4.1 per cent over the coming year, down from the 4.5 per cent forecast in January and the lowest rate since September 2021, according to the BoE...
...Liz Truss considered sacking Andrew Bailey as BoE governor after mini-Budget...
...UK government bonds began selling off as traders absorbed the BoE’s decision to hold rates, after two rate setters voted for a rate rise when only one was expected....
...But he stressed the BoE would need more data before it started reducing rates....
...Last month, however, she voted with most of the members to leave the BoE’s benchmark rate at a 16-year high of 5.25 per cent....
...This should be something the BoE does on a regular basis.”...
...Here, the BoE’s record has been poor....
...The BoE is also closely watching the services sector....
...The BoE didn’t quite follow suit,” he added....
...The FTSE 100 was up 1.9 per cent following the BoE’s announcement, having earlier climbed as high as 2.1 per cent following the Federal Reserve’s dovish pivot late on Wednesday....
...’s financial stability and prudential regulation work (“Bernanke warns BoE must change”, Report, April 13)....
...Until recently, climate change featured in a list of four critical government policy aims the BoE’s Financial Policy Committee was tasked with supporting, on top of its primary aim of protecting financial...
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