- Markets are putting too much weight on current data releases
- Need to be concerned about potential inflation persistence
- Need to cement commitment to 2% inflation target (Mann)
- More tightness in monetary policy now is important (Mann)
- Speed limit of UK economy is low now (Ramsden)
- We are very clear in distancing ourselves from market expectations (Ramsden)
- Fall in headline inflation is not a good guide on inflation trend (Haskel)
There's a lot of pushback here against what markets are presuming will be the trend moving forward on the inflation outlook. But I reckon this is all an added safety measure to keep the door open to tighten policy further if need be. As you can tell so far, they're not touching much on the struggling UK economic performance - which would be a hindrance to more rate hikes.