Bailey speech: ‘Table mountain’ is a good analogy for keeping rates on hold

Bank of England (BoE) Governor Andrew Bailey is testifying on the November Monetary Policy Report (MPR) before the UK’s Parliament's Treasury Select Committee (TSC) on Tuesday.

Key quotes 

Latest fall in inflation was good news.

News on inflation was largely as we expected.

Inflation will end year a little lower than we expected, but not by much.

We've seen some weakening on the quantity side of labor market.

Some signs that wage growth is coming off, but well above inflation target consistent level.

We are on target to get inflation back to 2%.

‘Table mountain’ is a good analogy for keeping rates on hold.

Risks are on the upside.

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