• We have to watch very carefully for consequences of inflation.
• Labour market is softening.
• Path of interest rates will continue to be gradually downwards.
• A major change is needed for upturn in productivity.
• Next big tech change should help productivity.
• We’ve seen a steepening of the long term bond yield curve.
• I don’t think there’s anything unusual about the UK in terms of the yield curve.
• There will be no sustained growth without stable low inflation.
• I don’t believe that QT is causing steepening of the yield curve.
• Yield curve steepening partly as a responce to high level of uncertainty in global economy.
• I don’t think investors are concerned about viability of UK debt stock.
• Internationally there is an increase in uncertainty.
• Increase in uncertainty is coming through in terms of economic activity and growth.
• Businesses tell me they are putting off investment decisions.

There’s nothing new here from Bailey as he just reaffirms the gradual easing with a keen eye on inflation persistence.

This article was written by Giuseppe Dellamotta at www.forexlive.com.