Bank of England(BoE) Deputy Governor for Monetary Policy Clare Lombardelli said on Monday, “caution remains appropriate” on policy outlook.
Additional quotes
- Evidence suggests that policy is still restrictive.
- Wage growth is still too high for on target inflation.
- Wages are my main focus when looking for disinflation.
- Further gradual disinflation progress and trade developments made 25 basis points (bps) rate cut appropriate.
- Latest US-China discussions are good news, if reports are accurate.
- Progress on domestic inflation, not US tariffs, was the main factor behind my rate vote.
- Trade policy uncertainty will continue until there’s a permanent solution.
- UK GDP data is volatile, makes it hard to gauge if weakness is due to demand or supply.
Market reaction
The PoundSterling sellers remain undeterred by these above comments, with GBP/USD losing 1% on the day to trade near 1.3170 as of writing.
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