The core reading gives no evidence to substantiate the bank's concern over energy prices feeding through into higher wages.
More Quotes from Richard McGuire:
Central banks around the world are on the horns of the dilemma of experiencing weak growth and rising inflation, which have contradictory implications for rates.Richard McGuire
These data do further indicate that the housing market has stabilized at a much less ebullient level than seen in the recent boom years. We continue to look for modest house- price inflation going forward.
Richard McGuire
Gilts rallied, as the BOE minutes had something for everyone. The market may have chosen to focus on the softness of growth.
Richard McGuire
We have a fairly pessimistic outlook on U.K. growth. Our interest-rate outlook for the U.K. going forward is favorable for bonds.
Richard McGuire
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