BoE Governor Bailey (Q&A), asked what he will be watching in the weeks ahead, says first-round effects (energy prices), indirect effects that impact costs of production, then second-round effects

Newsquawk StaffPublished 30 Apr 2026, 12:15 UTC

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11:55

BoE Governor Bailey (Q&A), asked what he will be watching in the weeks ahead, says first-round effects (energy prices), indirect effects that impact costs of production, then second-round effects

11:53

BoE Governor Bailey (Q&A) says it would be a mistake to wait for second-round effects before acting; MPC will need to look at a broad-range of evidence

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Context

Governor Bailey's comments on the importance of both first-round and second-round effects of energy prices suggest a heightened awareness of inflation dynamics at the Bank of England. This signals a possible hawkish bias, as the focus on production costs indicates a cautious approach to rate decisions. Watch for potential shifts in market expectations regarding future rate hikes based on these insights, especially concerning GBP and fixed income assets.

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