Bailey Q&A: We will make our judgements based on evidence from meeting to meeting

August 1, 2024
-FCHFX

August 01, 2024 at 12:49PM

BOE will decide appropriate degree of restrictiveness at each meeting

Not giving any view on the path of rates to come (when asked about a “one and done”)

We will go from meeting to meeting, making judgement based on evidence

Does not want to comment on market curve on rate cuts

It doesn’t look like he will want to pre-commit to anything nor does he rule out the notion that they may pause after cutting rates today. As things stand, traders are pricing in a ~55% probability of another rate cut in September. Pretty much another judgement call it would seem. The BOE will meet next on 19 September and there will be two CPI reports to watch before then (14 August and 18 September).

BOE will decide appropriate degree of restrictiveness at each meeting

Not giving any view on the path of rates to come (when asked about a "one and done")

We will go from meeting to meeting, making judgement based on evidence

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