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Bailey speech: Latest inflation drop was good news

Bank of England Governor Andrew Bailey will report on the November Monetary Policy Report to the Treasury Select Committee of the British Parliament on Tuesday.

Featured Statements

The latest drop in inflation was good news.

The inflation news was largely as expected.

Inflation will end the year a little lower than we expected, but not by much.

We have seen some weakening on the quantitative side of the labor market.

There are signs that wage growth is recovering, but it is well above the inflation target level.

Our goal is to get inflation back to 2%.

The “plateau” is a good analogy for keeping rates in check.

The risks are on the rise.

Labor market inefficiency is an upside risk for inflation.

The situation in the Middle East is a risk for oil prices, if there is a broader regional commitment.

It is sensible to keep rates where they are.

Markets are placing too much weight on current data releases.

We are concerned about the possible persistence of inflation.

Markets underestimate the risk of persistent inflation.

The QT is only having a small impact on yields, perhaps 10 to 15 basis points.

We fully take into account the impact of QT when we set interest rates.

Source: Fx Street

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