BOE's Bailey: UK economy, financial system have been resilient so far

<ul><li>FPC will remain vigilant as impact of higher rates feed through</li><li>Tighter bank lending standards reflect appropriate risk judgement</li><li>Strong UK labour market reduces stress on households from higher rates</li></ul><p>These are just some token remarks by Bailey. As things stand, it remains necessary for the BOE to stay on the more hawkish path with regards to policy. And that is also well reflected in market pricing, with a terminal rate of around 6.32% in the bank rate seen for now.</p>

This article was written by Justin Low at www.forexlive.com.