BOE governor Bailey reaffirms that rate cuts this year is not unreasonable

• All our meetings are in play, we take a fresh decision each time
• Need to have confidence that wages are heading in the right direction
• Don’t need to wait for inflation to drop to 2% before cutting rates
• Recent economic developments is obviously good news
• The job on inflation is not done but what we are seeing is encouraging
• Full transcript (may be gated)

There’s nothing surprising from his remarks above. They are merely a rehash of the ones yesterday here with just a bit more colour.

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