Business
"Bank of England Governor, Andrew Bailey, intends to continue to provide markets with advance guidance of the Bank’s thinking, despite the fact that that information may not always be reliable. Bailey believes that any advance guidance given to the market should be considered to be subject to the caveat that such guidance is only valid if the economy is moving in the direction that the Bank expects. Using that model, to understand last week’s decision to keep interest rates on hold for longer should be interpreted to mean that the economy is not growing as the Bank had expected, and it has therefore decided to prioritize growth over inflation. Bailey was back on the wires yesterday for the first time since the Bank jolted markets with a notable change of direction. Although he still believes that inflation remains transitory, he commented that the Bank will have to act by tightening monetary policy should rising inflation begin to spill over into wage demands. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.