“We no longer need as much stimulus as before,” said the Bank of England (BOE) policy officer, Michael Saunders, in his speech this Tuesday.
Featured statements
“There is concern that the continuation of asset purchases when the CPI is 4% could cause inflation expectations in the medium term to deviate upward.”
“This could cause a harsher monetary policy response later on.”
“We should loosen the gas instead of applying brakes.”
“If the bank rate goes up in the next year or so, it would be relatively limited.”
“The UK will not face a persistent inflation problem“.
“Perhaps it is correct to think that rates will go up in the next year more or less, depending on economic conditions. “
Market reaction
The above comments have little to no impact on the pound, as GBP / USD is close to the 1.3800 support. The rebound in the US dollar derives its strength from the rebound in Treasury yields.
The pair was last seen trading at 1.3810, down 0.16% on the day.
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