UK rate curve signals markets more optimistic than BoE on economy's outlook
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Fall in UK rate curve since November shows markets more upbeat than BoE on economy's supply capacity, per Deputy Governor Ramsden.
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Markets expect faster growth, slower inflation, less unemployment than BoE forecasts.
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Implies markets more positive on economic outlook, especially supply side.
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Ramsden reiterates BoE view that rates will need to stay restrictive for some time.
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Ramsden characterizes his approach as "watchful and responsive".