• Rate hikes must be conducted carefully
  • Cannot try to fight inflation with very severe increase in rates
  • We do have a challenge in how we communicate

Meanwhile, BOE policymaker, Catherine Mann, is out saying that they can't make a judgment on peak interest rates yet. Adding that the situation is data dependent. Geez. In any case, markets have adjusted higher their view on BOE rates in the past week, with the curve now seeing a peak at around 5.01%.