The Governor began the meeting by thanking attendees for joining and reminding participants of the purpose of these meetings. The Governor made clear that the MPC would be in listening mode, and that the meeting would be conducted in accordance with relevant competition and conduct laws, as per the terms of reference . Market participants opened by discussing developments in major advanced economies outside the UK. The conversation focused on how uncertainty around geopolitics and the future path of energy prices had impacted different countries. They noted the challenges facing central banks as they seek to navigate these conditions. Market participants also considered the drivers of higher bond yields globally.
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