- There is a debate in policymaking about whether to take gradual steps or do a larger move now to send a message
- It is reasonable to have this debate, my own view is to take more cautious steps
- Ramsden: BOE surveys show businesses think they can push higher costs on to consumers
- Bailey: If there is any military action in Ukraine, that's an upside risk for energy
- We are seeing some evidence that supply chain difficulty is easing but we need to see a lot more
- Fall in labor market participation has contributed to tighter labor market
The pound has given up its post-BOE gains.
