Bank Of England's Bailey Says I Think We Are Now Seeing A Revision Down In Our Assessment Of Intrinsic Inflation Persistence; Less Inflation Persistence Is Not Something We Can Take For Granted; Appears The Economic Costs Of Bringing Down Persistent Inflation Could Be Less Than In The Past; Inflation Expectations Appear To Be Better Anchored; Policy Setting Will Need To Remain Restrictive For Sufficiently Long; The Course Will Be A Steady One
Portfolio Pulse from Benzinga Newsdesk
Bank of England's Bailey suggests a revision down in intrinsic inflation persistence, indicating potentially lower economic costs to reduce inflation. Inflation expectations are better anchored, but policy will remain restrictive for a while.
August 23, 2024 | 3:08 pm
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NEUTRAL IMPACT
The Bank of England's outlook on inflation persistence and economic costs could impact European markets, which VGK, a European ETF, is exposed to.
VGK is an ETF that tracks European markets. The Bank of England's comments on inflation persistence and economic costs could influence European economic conditions, potentially affecting VGK's performance. However, the direct impact is uncertain, leading to a neutral short-term score.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50