The Bank of England, represented by Governor Andrew Bailey and Deputy Governor Sarah Breeden, will discuss the UK’s economic growth on Thursday, June 26, 2025. Breeden’s speech on UK competitiveness starts at 4:30 AM US Eastern Time and 8:30 AM GMT during the City UK conference. Andrea Rosen, the Head of Market Intelligence and Analysis at the Bank of England, will also speak at the CCBS “Transforming Monetary Policy” conference. Her talk about how financial markets have changed is scheduled for 6:45 AM US Eastern Time and 10:45 AM GMT. Governor Andrew Bailey will give a keynote speech at 7:00 AM US Eastern Time and 11:00 AM GMT at the British Chambers of Commerce Global Annual Conference. His address is titled “Where’s the Growth?” and will likely discuss the UK economy’s current state. Earlier this week, Bailey expressed worries about a slowing labor market. He pointed out that the UK might continue to enjoy low debt costs longer than other countries. This article highlights upcoming public speeches from key Bank of England figures, focusing on economic performance and Britain’s global position. Breeden will start the day by discussing UK competitiveness, likely addressing aspects of the economy that affect global productivity. Rosen’s appearance at the CCBS event will provide valuable insights, especially for those seeking clarity on how monetary policy changes impact markets. Her role is to interpret and shape communication between central banks and market participants, which is vital for understanding how these exchanges influence monetary policy. Bailey will wrap up this series of public engagements with a message that could shape expectations about future policy. His recent comments indicate he remains cautious about employment trends, even as he acknowledges that the UK’s borrowing environment is stable compared to other nations. When “low debt costs” are mentioned, it often raises questions about the sustainability of interest rate paths. Now, we should consider two key points. First, while the overall tone of these speeches will likely be similar to earlier communications, the timing is crucial as it comes before important data that may influence decisions in Q3. As employment weakens and debt pressures stay low, there is less urgency for sudden policy changes. The focus is on resilience—can current conditions hold without requiring sharp responses? Second, how yields and rate expectations react after these speeches will indicate more than just direct policy impacts. If markets see Bailey’s view of growth risks as a sign of patience in policy, volatility may decrease. However, if Rosen’s or Breeden’s messages suggest issues in financial transmission, we should brace for heightened reactions in short-term futures or rate volatility products. Adjusting positions ahead of these events should prioritize clarity. Our experience shows that when data is limited but officials are vocal, there can be significant gaps between how the market perceives central bank intentions and actual pricing. We must closely monitor the front-end of the yield curve, especially where expectations are unchanged despite increasing uncertainty in employment and output indicators. Any significant change in officials’ views on growth—especially regarding domestic competitiveness or financial transmission—could shift decision probabilities. Therefore, it’s important to watch for comments suggesting a reassessment, rather than a reversal, of current positions, as these will likely hold more weight than headline announcements.

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