That is pretty much a reiteration to their policy decision at the start of this month here. In other words, they are still pushing back against market pricing and seeing a lower peak in the current tightening cycle. As mentioned then, I still see the peak for the BOE somewhere around 4.50% to 4.75% as the window to tighten continues to narrow.
BOE's Pill: Our base case does not involve rates reaching 5.25%
- But says that the BOE has more to do on rates in the coming meetings
