BoE's Breeden: Current context different from last energy shock in 2022

Remarks from the BoE's policymaker, Sarah Breeden Firms and workers are likely to have less price and wage bargaining power, so second round effects less likelyNot wise to act before we have sufficient informationWill know more on balance of risks and scale and duration of shock by April meetingNo straight line between energy prices and ratesNot surprising that… Firms and workers are likely to have less price and wage bargaining power, so second round effects less likely Not wise to act before we have sufficient information Will know more on balance of ris... Firms and workers are likely to have less price and wage bargaining power, so second round effects less likely Not wise to act before we have sufficient information Will know more on balance of risks and scale and duration of shock by April meeting No straight line between energy prices and rates Not surprising that rate expectations have moved BoE's Breeden is signalling a cautious and data-dependent approach to monetary… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.