BoE Governor Bailey (Q&A) says, on the possibility of a 50bps hike ahead, notes the volatility makes it hard to put probabilities on the scenarios outlined

Bailey's remarks suggest a cautious stance from the BoE regarding potential rate hikes, highlighting uncertainty due to market volatility. This ambiguity complicates the outlook for monetary policy, which could affect GBP and fixed income markets as traders recalibrate expectations surrounding future rate decisions. The mention of volatility could also signal broader risks for equity markets amid changing sentiment.