On the headline remark, he's not wrong. That being said, the opposite is also true. With markets now leaning more towards pricing in hawkish steps by the BOE, not raising interest rates this year will end up loosening monetary policy instead. So, there's that for Bailey & co. to consider. Much like all major central banks right now, the BOE also wants to play for optionality for as long as they can get away with it. Policymakers all want to wait to see how the US-Iran conflict will change next and they will be hoping for more clarity when an agreement is eventually announced. However, that is not to say that the war ... (full story)