Bank of England Governor Bailey:
- Challenge we have at the moment is that we don’t know what outcome of trade situation will be
- We take gradual and careful approach as economy is hard to read
- Spend a lot of time looking at 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
- Asked about rate cuts, says there is a lot of uncertainty around at the moment
- Says UK labour market data pretty much in line with what we thought
- We’re seeing strengthening in food inflation, but not alone in that
No one knows what the outcome of the trade situation will be.
This article was written by Eamonn Sheridan at www.forexlive.com.
