BoE’s Taylor: UK gilt yields have gone up mainly because of global factors
by Dhwani Mehta · FXStreetBank of England (BoE) policymaker Alan Taylor testifies on the November Monetary Policy Report (MPR) before the UK Parliament's Treasury Select Committee (TSC) on Tuesday.
Key quotes
Disinflation is unfolding as we would expect.
Wide range of possibility for boe rate cuts, depends on how data unfolds.
Labour market data key for my view on rate cuts.
'Gradual' rate cuts is closely aligned to market curve currently, about 100 bps over next year.
That is not necessarily what will unfold, depending on economic conditions.
UK gilt yields have gone up mainly because of global factors.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | 0.22% | -0.58% | 0.05% | 0.18% | 0.13% | -0.03% | |
| EUR | -0.31% | -0.09% | -0.88% | -0.25% | -0.14% | -0.17% | -0.34% | |
| GBP | -0.22% | 0.09% | -0.76% | -0.16% | -0.04% | -0.08% | -0.24% | |
| JPY | 0.58% | 0.88% | 0.76% | 0.64% | 0.75% | 0.71% | 0.55% | |
| CAD | -0.05% | 0.25% | 0.16% | -0.64% | 0.12% | 0.08% | -0.09% | |
| AUD | -0.18% | 0.14% | 0.04% | -0.75% | -0.12% | -0.04% | -0.20% | |
| NZD | -0.13% | 0.17% | 0.08% | -0.71% | -0.08% | 0.04% | -0.16% | |
| CHF | 0.03% | 0.34% | 0.24% | -0.55% | 0.09% | 0.20% | 0.16% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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