- Looking for more sustained progress on reduction of more persistent elements of inflation
- Seeing some signs that pay growth is adjusting down in line with lower headline inflation
- Good news that economy is at full employment
- Inflation forecasts do not rule out policy easing at some point this year (Broadbent)
- That is the more likely direction in which bank rate is likely to move (Broadbent)
- But timing of any adjustment depends on economic data (Broadbent)
The comments mostly just reaffirm their ongoing policy stance. It doesn't take away from the likelihood of a June rate cut, in which markets are heavily leaning towards at the moment.
