BoE's Breeden: We are in a 'good place' to monitor what's happening
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Absent war, inflation would be at 2% target now BoE ‘in a good place’ to monitor what’s happening Iran war shock is less likely to become embedded and lead to inflationary dynamics that we might need to lean against There's little reason to raise interest rates given weak economi
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4 itemsBoE's Greene: Worth waiting before deciding on rate hikes
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.
BOE's Bailey: The inflation overshoot is entirely due to events in the Persian Gulf
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