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BoE Gov. Bailey: Policy needs to continue to be restrictive -The evidence is clear that higher bank rate is having an impact
BoE Gov. Bailey:
— DailyFX Team Live (@DailyFXTeam) August 3, 2023
-Policy needs to continue to be restrictive
-The evidence is clear that higher bank rate is having an impact
-More than one path for rates could deliver inflation back to target
Added at 8:00am
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BOE GOV. BAILEY: THE KEY QUESTION IS WHAT CONFIDENCE WE HAVE OF WAGE DEMANDS FOLLOWING INFLATION EXPECTATIONS LOWER.
— Breaking Market News (@financialjuice) August 3, 2023
Added at 8:00am
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BOE'S RAMSDEN: THE RISKS HAVE NOT CRYSTALLISED SUDDENLY, WE HAVE HAD TO KEEP HIKING RATES THIS YEAR AS RISKS HAVE MATERIALISED.
— Breaking Market News (@financialjuice) August 3, 2023
Added at 8:02am
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UK BoE Dep. Gov. Broadbent:
— DailyFX Team Live (@DailyFXTeam) August 3, 2023
-We need to make sure average interest rate over the medium term is high enough to return inflation to target
-We're not saying that households are underestimating risk of high rates
Added at 8:03am
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BOE GOV. BAILEY: WE HAD SOME UNPLEASANT SURPRISES IN JUNE, BUT WE HAVE SEEN SOME OF THAT TURN ROUND.
— Breaking Market News (@financialjuice) August 3, 2023