BoE’s Pill: Base case does not involve rates reaching 5.25%.
Bank of England (BoE) Chief Economist Huw Pill is now making some comments on the central bank’s interest rate outlook.
Key quotes
Base case does not involve rates reaching 5.25%.
Have more to do on rates in the coming meetings.
Policy time lags mean focusing on labor market is key.
Market reaction
Slightly dovish comments from the BoE policymakers fail to deter the Pound Sterling bulls, as GBP/USD is testing 1.2000, up 0.40% on a daily basis.