BoE’s Taylor: UK gilt yields have gone up mainly because of global factors

Dhwani Mehta FXStreet

Bank of England (BoE) policymaker Alan Taylor testifies on the November Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.

Key quotes

Disinflation is unfolding as we would expect.

Wide range of possibility for boe rate cuts, depends on how data unfolds.

Labour market data key for my view on rate cuts.

'Gradual' rate cuts is closely aligned to market curve currently, about 100 bps over next year.

That is not necessarily what will unfold, depending on economic conditions.

UK gilt yields have gone up mainly because of global factors.

British Pound PRICE Today

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

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.31%	0.22%	-0.58%	0.05%	0.18%	0.13%	-0.03%
EUR	-0.31%		-0.09%	-0.88%	-0.25%	-0.14%	-0.17%	-0.34%
GBP	-0.22%	0.09%		-0.76%	-0.16%	-0.04%	-0.08%	-0.24%
JPY	0.58%	0.88%	0.76%		0.64%	0.75%	0.71%	0.55%
CAD	-0.05%	0.25%	0.16%	-0.64%		0.12%	0.08%	-0.09%
AUD	-0.18%	0.14%	0.04%	-0.75%	-0.12%		-0.04%	-0.20%
NZD	-0.13%	0.17%	0.08%	-0.71%	-0.08%	0.04%		-0.16%
CHF	0.03%	0.34%	0.24%	-0.55%	0.09%	0.20%	0.16%

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

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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