BoE’s Lombardelli: Caution remains appropriate

Bank of England (BoE) Deputy Governor for Monetary Policy Clare Lombardelli said on Monday, “caution remains appropriate” on policy outlook.

Additional quotes

• Evidence suggests that policy is still restrictive.
• Wage growth is still too high for on target inflation.
• Wages are my main focus when looking for disinflation.
• Further gradual disinflation progress and trade developments made 25 basis points (bps) rate cut appropriate.

Market reaction

The Pound Sterling sellers remain undeterred by these above comments, with GBP/USD losing 1% on the day to trade near 1.3170 as of writing.