“We have been very cautious in forward-looking language because things are so uncertain.Bank of England Governor Andrew Bailey said on Monday, Reuters reports. When asked about the May rate decision, Bailey noted that the situation was very volatile..
Additional comments
“It will take time before we really get to a proper assessment how the joint experience of COVID and the invasion of Ukraine makes the world economy emerge in a new stable state”.
“We are at an even more difficult point for the world economy than after the financial crisis“.
“We must, as policy makers say, not want to see the world economy collapse.”
“Offsetting situations are much more difficult for monetary policymakers to deal with.”
“We do not face similar market conditions as in March 2020“.
“Commodities are clearly the area of ​​greatest volatility And it has a connection to monetary policy.”
“We have to be very attentive to the risk of interaction between the real economy and the impact on the financial markets for the raw materials.
“The impact of the real income shock has yet to materialize.”
market reaction
GBP/USD continues to decline during the European session. At time of writing, the pair is down 0.4% on the day at 1.3135.
Source: Fx Street
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