Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895 billion, respectively, BoE Governor Andrew Bailey is delivering his remarks on the policy outlook.
Key quotes
“Market rate forecast and constant rate forecast shows pretty small difference for inflation.”
“We never validate a path of market rates.”
“I would not over-interpret the difference between the two inflation forecasts.”
“Key judgement is whether the rise in inflation this year will persist, we don’t see that happening.”
“There have been some straws in the wind in the past quarter of a slightly different nature for inflation.”
“We are not seeing rising costs for businesses appear in output prices, we will need to watch this very carefully.”
“We are keeping a very close watch on labour supply.”
About Andrew Bailey (via bankofengland.co.uk)
“Andrew Bailey previously held the role of Deputy Governor, Prudential Regulation and CEO of the PRA from 1 April 2013. While retaining his role as Executive Director of the Bank, Andrew joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012, Andrew became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Andrew was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.”
Share
