- I am comfortable with a market interest rate profile that has rate cuts in it
They are at least beginning to acknowledge that rate cuts are the likely next step. But as you'd expect, they aren't going to be explicit about the timing of when that might transpire. In any case, the data dictates that now is not the right time anyway. As such, the BOE will continue to string the market along until the data suggests that they can be comfortable to take that next step.
