BOE policymaker, Silvana Tenreyro, remarks

The climb down from team transitory continues. The key words in the headline remark are "should be". I reckon that says a lot about their confidence towards the issue.

In any case, the BOE has already started to pivot on this as per their latest policy meeting here so this isn't anything too new in my view. But it does reaffirm that policymakers aren't as certain about the whole inflation debate as they were in the summer.

*coughs* It wouldn't be the first time.