BOE: Bailey points to future rate moves should be based on econ fundamentals
Feb-06 13:13
- Bailey refuses to draw on more on Mann's rationale for voting for a 50bp cut stating that she "will, I'm sure, be speaking in the near future, and will explain her position in much more detail."
- "But I will come back to this. I think it's important to focus so much. It was a 7-2 vote... I would, I would just be very, very clear that the position of the majority of the committee, which of course, eventually decides the outcome at any meeting, was conditioned on that, and I would not, therefore over interpret any other moves in voting patterns."
- "I think it's important that the view on the future path of interest rates comes is based on the sort of economic fundamentals. I mean, that's what really determines it. And there, I'd come back to those points that we made in the report there, we think the path of disinflation remains in place very much as we had it back in November. There will be a bump in the road, but we don't think that bump is going to have a long lasting effect. And there is a lot of uncertainty coming... the degree to which the path of activity is going to be supply or demand driven, and that really is going to be that you think, what's going to shape this, how that sort of shakes down, is going to be the thing that really, really influences it
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
PIPELINE: $1B Kuwait Finance House (KFH) 5Y SOFR Sukuk Launched
Jan-07 13:09
- Date $MM Issuer (Priced *, Launch #)
- 01/07 $1b #Kuwait Finance House (KFH) 5Y SOFR Sukuk +95
- 01/07 $Benchmark Cncl of Europe Dev Bank 5Y SOFR+45a
- 01/07 $6B European Investment Bank (EIB) 5Y SOFR+42
- 01/07 $500M DBJ WNG 10Y SOFR+73
- 01/07 $Benchmark World Bank 7Y +54
- 01/07 $Benchmark ADB 3Y SOFR+31
- 01/07 $Benchmark CIBC 5Y SOFR+75a
- 01/07 $Benchmark Kommunalbanken 5Y +51
- 01/07 $Benchmark Santander 5Y +135a, 10Y +160a
- 01/07 $Benchmark Kexim 3Y +55a, 3Y SOFR, 5Y +75a, 10Y +90a
- 01/07 $Benchmark SMFG 5.25Y +100, 5.25Y SOFR, 7Y +110a, 10Y +120a
STIR: Repo Reference Rates
Jan-07 13:03
- Secured Overnight Financing Rate (SOFR): 4.27% (-0.04), volume: $2.349T
- Broad General Collateral Rate (BGCR): 4.26% (-0.03), volume: $844B
- Tri-Party General Collateral Rate (TGCR): 4.26% (-0.03), volume: $829B
- (rate, volume levels reflect prior session)
GILT PAOF RESULTS: GBP16.875mln of the 4.375% Jul-54 Gilt sold.
Jan-07 13:03
- A total of GBP562.5mln had been available.
- This leaves GBP26.096bln of the gilt in issue.
