BoE’s Bailey: We have a softening picture for growth

Bank of England (BoE) Governor Andrew Bailey said that financial market tightening gives the central bank some time to assess whether to raise rates or leave them where they are. Bailey made the comments while speaking to the Treasury Committee on Wednesday.

Key takeaways:

Financial market tightening gives us some time to assess whether to raise rates.

We have a softening picture for growth and the labor market.

I don't think inflation expectations are de-anchored.

We see a continued gradual reduction in private sector wage settlements.

Today's food price inflation was surprisingly benign.

Money supply isn't flagging inflation pressure.”