BoE’s Governor Bailey: Rate cut at next meeting is a genuinely open question

Agustin Wazne FXStreet

Bank of England (BoE) Governor Andrew Bailey said on Tuesday that he expects inflation to return to close to target in April. During his testimony before the parliament's Treasury committee, he added that a possible rate cut in March is "a genuinely open question."

Key takeaways:

With inflation returning to target, there should be scope for some further easing in monetary policy.

I will go into the coming meetings asking whether a cut is justified.

We do expect inflation to return to close to target in April.

Expect to see scope for some further easing of policy, probably during this year.

Rate cut at next meeting is a genuinely open question.”

Pound Sterling Price Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.16%	-0.04%	0.81%	0.12%	0.21%	0.03%	0.03%
EUR	-0.16%		-0.21%	0.66%	-0.03%	0.05%	-0.12%	-0.13%
GBP	0.04%	0.21%		0.84%	0.17%	0.26%	0.08%	0.08%
JPY	-0.81%	-0.66%	-0.84%		-0.66%	-0.58%	-0.76%	-0.76%
CAD	-0.12%	0.03%	-0.17%	0.66%		0.09%	-0.09%	-0.09%
AUD	-0.21%	-0.05%	-0.26%	0.58%	-0.09%		-0.18%	-0.18%
NZD	-0.03%	0.12%	-0.08%	0.76%	0.09%	0.18%		-0.01%
CHF	-0.03%	0.13%	-0.08%	0.76%	0.09%	0.18%	0.01%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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