The BOE Decides | Special Coverage
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Read a transcript preview of “The BOE Decides | Special Coverage” from Bloomberg Television, uploaded on 2026-11-05.
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Language: English (creator captions)
[0:02] Hello, everybody. Welcome to special coverage of the Bank
[0:04] of England rate decision from the opening trade team.
[0:07] The BOE looks ready to deliver its first interest rate hike in more than three
[0:11] years. Governor Andrew Bailey and the MPC are
[0:14] contending with elevated inflation on rising gas and oil prices emanating, of
[0:19] course, from not least the Iran war. The big drop in prices this week might
[0:23] help, but it complicates today's communications.
[0:26] We're also watching for a new set of forecasts from the Monetary Policy
[0:30] Report. Tom, what do you see?
[0:32] Well, we check in on the markets then with that backdrop, the pound currently
[0:34] trading at 134, a little softer by a 10th of a percent.
[0:37] We of course stay laser focused on the debt markets of the UK.
[0:40] The front end, but also the long end, the ten year currently a little bit of a
[0:44] bit coming in. Bonds are still big globally.
[0:46] You're seeing that reflected in gilts yields down close to two basis points at
[0:49] 511 on the ten year and are talking about the inflation and the energy
[0:52] story, the fact that energy prices, although oil is up now in the session,
[0:56] is down on the week. And of course that is supportive for
[0:58] bonds as well. Footsie 100 coming up 84 points, up 8/10
[1:02] of a percent in the countdown to the Bank of England starts right now.
[1:16] Welcome to the program everybody. This is a Bank of England rate decision
[1:19] special from the opening trade team guide today.
[1:23] Tom and I are here to take you through this decision.
[1:25] And really interesting, Tom. Then the setup going