BOE's Bailey: Language change reflects a turning of the corner but it is very early days
He says that they had previously had the presumption that the economy would evolve as they thought it would, which would have warranted a series of aggressive rate hikes and he also highlighted on the removal of the word "forceful" - which I highlighted here.The headline remark has sent the pound to fresh lows with EUR/GBP hitting 0.8955 and GBP/USD just under 1.2270 on the day. This article was written by Justin Low at www.forexlive.com.
He says that they had previously had the presumption that the economy would evolve as they thought it would, which would have warranted a series of aggressive rate hikes and he also highlighted on the removal of the word "forceful" - which I highlighted here.
The headline remark has sent the pound to fresh lows with EUR/GBP hitting 0.8955 and GBP/USD just under 1.2270 on the day.
This article was written by Justin Low at www.forexlive.com.
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