BOE policymaker Breeden says no need to rush in taking next policy step
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We do not need to rush We are in a good place to be able to watch what’s happening in the economy There is time to understand the size of the shocks and also how the economy is evolving Should not be trigger-happy on rates Cannot wait forever but that doesn't mean we need to reac
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The desk believes the Bank of England (BoE) is likely to adopt a cautious approach regarding interest rate hikes, particularly in light of geopolitical tensions stemming from the US-Iran conflict. Per the full note [source], BoE's Greene has indicated that while inflation risks are skewed to the upside, the current sluggish economy and loose labor market may mitigate the second-round effects of energy shocks. The market currently prices in a 42% chance of a rate hike in June, which suggests that upcoming economic data will be pivotal in shaping expectations ahead of the meeting.