BOE Bailey Q&A: Each meeting is a new decision on rates

• We are evidence-based
• Inflation dynamics in the UK are different to that in the US
• There is always volatility when it comes to the data
• We can’t not look at the labour market, even with the latest ONS data shortcomings
• There is no law that says the Fed must move first before other central banks
• One rate cut will still leave us with restrictive monetary policy
• We do not have a very precise view on where rates will end up (Broadbent)
• Politics are not a consideration for timing of next rate move

There doesn’t seem to be much added spice in the Q&A here. I will update the post if there’s anything else but I reckon that’s about it in terms of significant headlines from the BOE today.

This article was written by Justin Low at www.forexlive.com.