Remarks by BOE governor, Andrew Bailey
- Toolkit decisions should not be interpreted about signal of future policy path
- Contingency planning for negative rates does not imply it is our chosen policy tool
- UK faces two-sided risks to economic recovery
- For now, risks remain tilted to the downside
- But those risks are declining as time goes by
- Reiterates that QE is set to run its course at the end of the year
The headline is pretty much the key takeaway from the latest set of remarks by Bailey, but this keeps with what we have heard since January for the most part - that being negative rates is just an insurance policy and no longer the base case scenario.
