BOE quarterly inflation report 08.02.2018

  • Hikes to come sooner and more frequent than previously forecast in Nov 2017 QIR
    – Time horizon for hikes to be a more conventional 2-yrs, rather than 3-yrs
    – Ongoing withdrawal of stimulus required based on growth and inflation outlook
    – Bank maintains that rate rises to be gradual and limted
    – Output gap seen closing sooner than previously anticpated
    – MPC expect wages to outpace inflation this year
    – Squeeze in living standards is easing
    – Inflation seen falling back toward but still above 2% target in 2018
  • Big jump in cable to 1.3990 on the frequent hike lines
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