- December inflation number broadly confirmed assessment from December meetings
- Once we are firmly on our way to 2%, then rate cut topic will come to the forefront
- Interest rate cuts are not a near-term topic
The question for all central banks are is: How much progress do they need to see to feel comfortable that they're on track for 2-3% inflation?
When he says they're not talking about it near-term; that's true but it's something that can change with a single comment. The market is pricing in a 70% chance of a March cut.
