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supply problems causing inflation should be temporary


On inflation

  • The risk is that inflation expectations take hold and we have a very tight labor market in the UK.
  • It is more dangerous to give advice in uncertain times
  • The impact of our forecasts varies depending on where the markets are located
  • The line between comments and advice is quite blurry

Markets are wary of Bailey after he led rate markets to expect faster interest rate hikes ahead of the latest BoE meeting. Once bitten, twice shy. Bailey even gave his own warning in the comments. Fair enough too!

Also a weird comment here –

  • The impact of our forecasts varies depending on where the markets are located

It seems a bit of a truism. I guess he got a lot of criticism after the last rate meeting.

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