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: 2025.05.30
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BoE's Bailey: The UK's needs, not tariffs and trade, will be key driver for UK rates
World FX news
Breaking news
BoE's Bailey: The UK's needs, not tariffs and trade, will be key driver for UK rates
New
2025.05.30 06:29
2025.05.30 06:29
2025.05.30 06:29
Bank of England (BoE) Governor Andrew Bailey noted late on Thursday that the primary drivers behind the BoE's main reference rate remains the economic needs of the United Kingdom (UK), not external drivers such as the Trump administration's tariff policies.
Key highlights
Raising the UK's potential growth rate critical.
We take a gradual and careful approach as the economy is hard to read.
Spend a lot of time examining risks from market fragilities, including bonds.
Not useful to ask if dollar will remain reserve currency, may see some rebalancing but not anywhere near dollar losing its status.
Rate cuts uncertainty prevalent.
UK labour market data pretty much in line with our expectations.
Evidence on United Kingdom is in line with our expectations.
United Kingdom issues are key drivers of policy.
UK needs, not tariffs and trade, will be key driver for UK rates.
Strengthening in food inflation but not alone in that.
Slowing wage increase trend still remains.
Less volatile segments of United Kingdom inflation are gradually decreasing, very slowly.
Last updated
: 2025.05.30
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