- We need to watch services inflation very carefully.
- Services inflation is still above a level that's compatible with on-target inflation.
- Inflation was lower than expected when the BoE cut rates.
- A gradual approach to removing monetary policy restraint will help us to observe risks to the inflation outlook.
- The most important part of the budget is how businesses respond to higher employment costs.
- Return of inflation to target has been faster than expected.
- Not clear how the national insurance rise will play out.
- H1 GDP growth was noticeably stronger than expected.
- Evidence points to fading second-round effects.
- I see a risk of lingering persistence of wage pressures.
- Recent evidence has been that inflation has been lower than expected but we don't know if that will continue.
- A gradual approach to rate cuts allows BoE to adjust to evidence.
BoE's Bailey