Tight squeeze or a gentle touch? - a podcast by Phil Dobbie

Friday 4th February 2022

The Bank of England is certainly all out to stop any risk of wages pushing inflation out of control. The decision was one vote away from a half percent rate rise, with NAB’s Gavin Friend saying the bank is trying to send a firm signal, even though the eventual number of rises this year might fall below current market expectations. The rise comes at a time of strong headwinds for UK households and the broader economy. Meanwhile, a strong reaction on bond markets to the ECB meeting. The announcement itself wasn’t a surprise, but some ground was given during the press conference suggesting the ECB might move faster than they have been letting on. Tonight, of course, non-farm payrolls. Before that, the RBA Statement of Monetary Policy.

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