BoE Governor Andrew Bailey indicated overnight that he anticipates the next move in monetary policy will be a rate cut. He expects a significant decline in April’s UK inflation data, but questions remain about how long the current level of monetary policy restriction will need to be maintained.
Bailey addressed the IMF’s suggestion to hold a press conference after each rate-setting meeting, rather than just four times a year. He stated, “We will roll that question that the IMF have given to us into our thinking about implementing Ben Bernanke’s changes.”
