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BOE’s Broadbent: Not clear if rates must rise as much as the market sees

The MPC is likely to respond relatively promptly to news about fiscal policy.

The justification for tighter policy is clear.

It remains the case that most of the overshoot in headline CPI inflation, relative to target, reflects the direct impact of higher import prices.

It also remains likely that much of this is likely to fade as those prices stabilize.

If government support mitigates the effect of import costs, there is more at the margin for monetary policy to do.

There is now some uncertainty about the prospective scale and nature of the government’s energy subsidies.

We are unlikely to know for a while precisely the form that will take.

Not clear if rates must rise as much as the market sees.

Dropping the energy plan will boost inflation.

Japan’s Suzuki: Will take action against any speculative, excessive and sudden moves

As the USD/JPY pair briefly surpassed 150.00 in the last hour, Japanese Finance Minister Shunichi Suzuki was quick to cross the wires, via Reuters, no
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USD/INR: Next projections are located at 84.20 and 85.90 – SocGen

The Indian rupee slipped to a fresh record low of 83.21 against the US dollar on Wednesday. The USD/INR could now target 84.20, then 85.90, economists
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