BOE's Bailey speaking
Bank of England's Bailey is speaking and comments on policy guidance saying:
- I do not think we will go back to a hard to form of guidance
- Not off the table that we give no guidance at all on rates, but says bank decisions are made meeting by meeting
More from Bailey:
- Ee have a very tight labor market
The market was looking for a tightening at the last BOE meeting on the back of comments from BOE officials (including Bailey). The BOE did not tighten and the GBPUSD fell sharply.
The pair today reached a new low going back to December 2020.