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I don’t think we’ll go back to a hard form of guidance

BOE’s Bailey speaking

Bailey of the Bank of England speaks and comments on policy guidance, saying:

  • I don’t think we’ll go back to a hard-to-train orientation
  • We don’t give any indication of rates, but we say banking decisions are made on a meeting-by-meeting basis.

More from Bailey:

  • Ee have a very tight labor market

The market was looking for tightening at the last BOE meeting following comments from BOE officials (including Bailey). The BOE did not tighten and the GBPUSD fell sharply.

Today the pair hit a new low dating back to December 2020.


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