The Policies Manager of the Bank of England (BOE), Alan Taylor, is talking at a round table entitled “Communication of the Central Bank: current challenges” in the ECB forum on Central Banking, in Sintra, on Wednesday.
Key quotes
The soft landing at interest rates is at risk.
I do not think they are needed or are desirable bigger cuts.
Everything has to be taken into consideration, we are not on a pre -established path on the rates.
Starting to see cracks in the labor market.
The MPC would benefit when finding a vehicle to communicate its beliefs about future interest rates.
There are many potential ways to transmit estimates of the long -term neutral rate as judged by the various members.
I see a greater probability of a downward scenario in 2026 that diverts us from the way, as the weakness of demand and commercial interruptions increase.
The underlying balance between supply and demand is moving rapidly as the margin opens.
I estimate that the real neutral rate of the United Kingdom is approximately 0.75 to 1 percent, placing the neutral nominal rate in around 2.75 to 3 percent.
Quantitative hardening is not in a pre -established path.
Market reaction
At the time of writing, the GBP/USD quotes 0.38% down on the day about 1,3700, showing little or no reaction to these previous comments.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the weakest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.27% | 0.40% | 0.50% | 0.05% | 0.22% | 0.33% | 0.18% | |
| EUR | -0.27% | 0.09% | 0.22% | -0.25% | -0.03% | 0.16% | -0.08% | |
| GBP | -0.40% | -0.09% | 0.14% | -0.36% | -0.18% | 0.05% | -0.20% | |
| JPY | -0.50% | -0.22% | -0.14% | -0.46% | -0.31% | -0.15% | -0.34% | |
| CAD | -0.05% | 0.25% | 0.36% | 0.46% | 0.18% | 0.39% | 0.15% | |
| Aud | -0.22% | 0.03% | 0.18% | 0.31% | -0.18% | 0.26% | -0.02% | |
| NZD | -0.33% | -0.16% | -0.05% | 0.15% | -0.39% | -0.26% | -0.25% | |
| CHF | -0.18% | 0.08% | 0.20% | 0.34% | -0.15% | 0.02% | 0.25% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
