BOE’s Haskel: I think rate cuts are a long way off

• Fall in headline inflation is very good news
• But what we really care about is persistence and underlying inflation
• Does not think headline inflation gives a good guide on persistence
• Vote change is because there were improvements in critical indicators of inflation
• Full transcript (may be gated)

As a reminder, Haskel was one who voted for a rate hike back in February here before changing his bank rate vote to a hold in March last week. That still makes him one of the more hawkish members on the committee. So, for him to say that rate cuts are quite some ways off is consistent with that view.

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