Monetary Policy Report Press Conference, May 2024

Manufacturing production decreased by 6,4% in March 2024 compared with March 2023. The following divisions made the largest negative contributions:  motor vehicles, parts and ...

We have raised interest rates over the past couple of years to help slow down price rises (inflation). It’s working. Inflation in the UK has fallen to its lowest level since ...

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its ...

post: BOE GOV. BAILEY: GLOBAL INFLATION SHOCKS ARE FADING. post: BOE GOV. BAILEY: IT IS ENCOURAGING THAT INFLATION WILL BE CLOSE TO THE TARGET IN THE COMING MONTHS. post: *BOE'S BAILEY: `NOT YET AT A POINT' TO CUT BASE RATE post: BOE GOV. BAILEY: HIGHER THAN EXPECTED WAGE AND SERVICES INFLATION SINCE FEBRUARY SHOULD GIVE US PAUSE FOR THOUGHT, BUT SHOULDN'T OVERINTERPRET. post: *BOE'S BAILEY: JUNE BANK RATE CUT IS NOT RULED OUT OR PLANNED

post: BOE'S BAILEY - LIKELY WE WILL NEED TO CUT BANK RATE OVER THE COMING QUARTERS BOE'S BAILEY - POSSIBLE WE WILL NEED TO CUT RATES MORE THAN CURRENTLY PRICED INTO MARKET RATES post: BOE GOV. BAILEY: WE HAVE NO PRECONCEPTIONS ABOUT HOW FAR AND FAST WE WILL CUT RATES. post: BOE GOV. BAILEY: MARKET MOVES IN INTEREST RATE EXPECTATIONS HAVE BEEN DOMINATED BY US MOVES. post: BOE GOV. BAILEY: THERE HAS BEEN SOME DECOUPLING RECENTLY BETWEEN UK AND US MARKET RATE EXPECTATIONS. post: BOE GOV. BAILEY: ONE SMALL CUT IN THE BANK RATE WOULD STILL LEAVE US WITH RESTRICTIVE MONETARY POLICY.

post: UK BOE DEP. GOV. BROADBENT: MARKET RATE CURVE MAY BE A LITTLE HIGH, BUT IT DOESN'T MEAN IT IS UNREASONABLE.