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- BOE’s Bailey: Not our job to guide financial markets on interest rates
BOE’s Bailey: Not our job to guide financial markets on interest rates
Defending his position after last Thursday’s push back against aggressive bets of tightening, Bank of England (BOE) Governor Andrew Bailey told Bloomberg TV that his remarks on the need to curb inflation before the meeting were “conditional”.
Additional quotes
“I don’t think it’s our job to steer markets day by day and week by week,”
“Pre-meeting comments were prompted by concern that falling bond yields could lead to a rise in inflationary pressures. “
“The bets after his remarks were “in the right direction, overdone.”
Market reaction
Amidst Brexit concerns and BOE’s dovishness, GBP/USD is resuming its downside momentum towards the two-month lows of 1.3424. At the time of writing, the cable is losing 0.13% on the day to trade at 1.3477.
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