BOE governor Bailey: I don’t use the word “stagflation”

• We’ve had a flat economy after the pickup in the earlier stages of last year
• But our policy actions are anchored on the view that the disinflation process is in place
• Inflation is expected to pick up but only in the short-term (Ramsden)
• Movement in UK bond yields largely follows the US market

I reckon those are about the two most interesting questions that he’ll be asked today. There’s not too much else to scrutinise as none of them up there will be answering on behalf of Mann on her change in policy stance.

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