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BOE May Need to Tighten Policy More Aggressively

Recent economic data suggest that the Bank of England may need to tighten monetary policy more aggressively to fight inflation, Saxo Bank says. “Jobs figures and inflation data showed the BOE might need to be more aggressive in tightening the economy,” it says. However, the gilt yield curve bull-steepened after Wednesday’s inflation data, meaning gilts rallied, with shorter-dated securities gaining the most, pushing down their yields more than those at the long end. This happened as “markets pared back on rate hike expectations as inflation is still in line with the BOE’s projections,” the bank says. ([email protected])
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Source: Dow Jones

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