BoE’s Pill: Base case does not involve rates reaching 5.25%.

Dhwani Mehta FXStreet

Bank of England (BoE) Chief Economist Huw Pill is now making some comments on the central bank’s interest rate outlook.

Key quotes

Base case does not involve rates reaching 5.25%.

Have more to do on rates in the coming meetings.

Policy time lags mean focusing on labor market is key.

Market reaction

Slightly dovish comments from the BoE policymakers fail to deter the Pound Sterling bulls, as GBP/USD is testing 1.2000, up 0.40% on a daily basis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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