BOE's Broadbent: I don't agree that all the evidence points in the direction of rate cuts

• Wage growth, services inflation are twice the rate consistent with sustainable CPI
• But reasonably confident that wage growth will edge down further in coming months
• Expectation in wage growth fall is due to fall in headline inflation

Don't expect to get much of a change to this narrative until we are right at the point where rate cuts are to present themselves. In the case of the BOE, it might only come around May.