[WATCH LIVE] BoE's Greene (Hawkish) to speak in South Africa

Greene is tagged hawkish, and remarks from officials at that end of the MPC spectrum tend to matter mainly when they soften; a hawk repeating hawkish framing is rarely market-moving on its own, whereas any concession toward the doves' case has historically repriced the front end because it signals the median voter shifting. Speeches delivered at foreign venues, away from the domestic calendar, have tended to be lower-signal than set-piece appearances or testimony, often restating existing positions rather than breaking new ground. The distinction worth drawing is between commentary on the near-term rate path, which moves short sterling and the front of the gilt curve, and structural remarks on inflation persistence or the neutral rate, which bear on the terminal pricing instead. The tells are any nuance on wage growth and services inflation, the variables that have kept the hawkish wing resistant to easing, and whether the tone aligns with or diverges from the most recent MPC minutes. Whether the remarks are prepared text or off-the-cuff answers matters: unscripted Q&A has historically been where genuine signal slips out.