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SNB's Schlegel: Swiss inflationary pressure has barely changed
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SNB'S CHAIRMAN SCHLEGEL: THE SNB IS READY TO INTERVENE ON CURRENCY MARKETS WHERE NECESSARY. ...
BoE Gov. Bailey: I will go into the coming meetings asking whether a cut is justified BANK OF ENGLAND'S BAILEY: WE DO EXPECT INFLATION TO RETURN TO CLOSE TO TARGET IN APRIL 
Bailey: Report to the Treasury Committee In the 15 months since my last report to the Treasury Committee in November 2024, monetary policy has had to navigate an increase in headline inflation against the backdrop of continuing underlying disinflation. To ensure a sustainable return of inflation to the 2% target, monetary policy has been set to balance, on the one hand, upside risk to inflation from lingering persistence in domestic inflationary pressures stemming from the big inflationary shocks of recent years, and downside risks to inflation from subdued economic growth and a weakening labour market on the other. Gradual progress on underlying disinflation and receding risks from prolonged cost pressures have allowed the Monetary Policy Committee (MPC) to cut Bank Rate four times, from 4.75% in November 2024 to 3.75% today. Twelve-month inflation in the Consumer Price Index (CPI) was 3.4% in the latest data for December 2025, up from its most recent trough of 1.7% in September 2024 – the latest datapoint at the time of my previous report – but down from a peak of 3.8% in July, August and September 2025. Looking ahead, Bank staff expect CPI inflation to decline further to about 3% in January, February and March this year, before reaching a level close the 2% target from April. In the latest Monetary Policy Report (MPR) from February 2026, in the central case, inflation is then projected to stay close to the 2% target for the r BOE'S BAILEY SAYS EXPECT TO SEE SCOPE FOR SOME FURTHER EASING OF POLICY, PROBABLY DURING THIS YEAR ... BOE'S BAILEY: RATE CUT AT NEXT MEETING IS A GENUINELY OPEN QUESTION
Bailey: Report to the Treasury Committee In the 15 months since my last report to the Treasury Committee in November 2024, monetary policy has had to navigate an increase in headline inflation against the backdrop of continuing underlying disinflation. To ensure a sustainable return of inflation to the 2% target, monetary policy has been set to balance, on the one hand, upside risk to inflation from lingering persistence in domestic inflationary pressures stemming from the big inflationary shocks of recent years, and downside risks to inflation from subdued economic growth and a weakening labour market on the other. Gradual progress on underlying disinflation and receding risks from prolonged cost pressures have allowed the Monetary Policy Committee (MPC) to cut Bank Rate four times, from 4.75% in November 2024 to 3.75% today. Twelve-month inflation in the Consumer Price Index (CPI) was 3.4% in the latest data for December 2025, up from its most recent trough of 1.7% in September 2024 – the latest datapoint at the time of my previous report – but down from a peak of 3.8% in July, August and September 2025. Looking ahead, Bank staff expect CPI inflation to decline further to about 3% in January, February and March this year, before reaching a level close the 2% target from April. In the latest Monetary Policy Report (MPR) from February 2026, in the central case, inflation is then projected to stay close to the 2% target for the r BOE'S BAILEY SAYS EXPECT TO SEE SCOPE FOR SOME FURTHER EASING OF POLICY, PROBABLY DURING THIS YEAR ... BOE'S BAILEY: RATE CUT AT NEXT MEETING IS A GENUINELY OPEN QUESTION
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